A number of smaller Division I programs offered Michigan State basketball player Kenny Goins a full scholarship out of Warren Mott High School in Warren, Mich. Instead, he enrolled at Michigan State, which didn’t offer him a scholarship, forcing him and his family to take out a student loan, the Wall Street Journal reported. “I wanted to send him college where he wanted to go rather than where he needed to go,” said Ken Goins, Kenny’s father. Goins and his parents chose the path that 45 million people in this country take in paying for college. Ken Goins couldn’t find a job at the time. (He now works for the local school district as a bus driver and in other roles.) His mother, Laura, requires care and the assistance of a wheelchair because of a condition called an arteriovenous malformation, an abnormal connection between arteries and veins that nearly killed her. With the medical bills rising, Kenny Goins felt he should opt for a free ride at Central Michigan, despite his lifelong dream to play for Michigan State. Before he could, however, the Chippewas received a commitment from another big man. Goins’s spot suddenly disappeared. Ken Goins viewed it as a blessing. He realized his son preferred Michigan State, which expressed interest in Goins as a walk-on. He told Kenny not to worry about the financial situation, telling him, “The financial things are not your issue to worry about. Your job is to go to school and have fun.” He would figure it out later. The loan amounted to about $17,000. Read more. (Subscription required.)
Student loan debt in bankruptcy will be one of the many topics addressed in the Final Report of the ABI Commission on Consumer Bankruptcy. The full report of recommendations to improve the consumer bankruptcy system will released next Thursday on the Commission’s website . A briefing on Thursday with Commission leadership at 10 a.m. EDT to discuss the recommendations will be streamed live on the Commission site.
