No Employment, No Income, No Cosigner Loans

Joe Nelson emails:

I noticed the top two articles for this week centered around college and the higher education business.  I received this:

https://www.hesaa.org/GradFixed/jsp/public/GradFixedMarketing.jsp in the mail the other day. 

I thought you might find it humorous in a laugh to keep from cyring sort of way.  It appears we've learned nothing over the previous 10 years.  I mean, what could possibly go wrong when lending lending tens of thousands to hundreds of thousands of dollars to a teenager or young adult with no income, no job and/or no assets?

Is it any surprise that top hedge funds are shorting Sallie Mae and syndicated student loans?