re: SEC schools by year of their founding

quote:

---

which was a crime

---

Actually, it was more a scam to be fallen victim to than a crime. If you were short on your taxes, you were thrown in debtors prison and, the thing is, you can't really make an income locked away in a disease-ridden jail cell but that didn't stop the crown from taxing you again the next go round. So, even when forced to work off the debts, people never really got out of debtors prison because they couldn't ever catch up with the debt hanging over their heads.

Really it's a historical analogy for student loans.