Wednesday, December 14, 2011

Rocking Horse Traffic Jam. IL Tuition Scam

She enrolled her daughter at birth but no go. Another state of Illinois program going bust, half a billion shortfall going going gone as the gap will widen to billions, but the state sends out this statement:
In a letter to contract holders this week, commission officials said the program's funded status "is much stronger than any of the state's pension plans and many corporate pension plans."
A disingenuous and useless claim, as Illinois pension plans are among the worst funded in the nation. In this college fund, Illinois had misrepresented the guarantee and assumed a ridiculously high rate of return, and this is the result.

Add to that the government student loan-generated tuition bubble and you have yet another big gov disaster our children and grandchildren will be forced to pay for.

No comments: