The idea of need-blind admissions is noble: Offering qualified applicants admission to a university, regardless of their financial circumstances. But in too many cases, need-blind admissions mean young scholars are accepted to their dream schools under circumstances that would make attending financial suicide.
On a recent Today Show Money 911 segment, a caller said she'd filed for bankruptcy -- but that didn't free her from her student loans. She then asked how bankruptcy would affect her ability to get more student loans. Clearly, she isn't learning the right lesson from Chapter 11.