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For Profit Schools

All articles tagged with #for profit schools

education2 years ago

Navigating the Resumption of Student Loan Payments: Tips and Insights for Borrowers

Predatory lending in the student loan industry is not limited to for-profit schools. Some highly regarded universities are licensing their name to for-profit schools, allowing them to outsource the entire education process. The Biden administration has discharged almost $73 billion in student loan debt for over 2.5 million borrowers, including those who attended for-profit or formerly for-profit schools. However, a lawsuit is seeking to prevent the Department of Education from discharging debt for defrauded borrowers using the borrower's defense discharge.

via Yahoo Finance|
#debt-relief#education#for-profit-schools
education2 years ago

"Graduate School Debt Crisis: Overwhelming Burden on Alums"

A new analysis by the HEA Group reveals that about one-third of graduate school programs leave students with more debt than they initially borrowed, five years after graduation. The study highlights the lack of accountability in graduate programs and raises concerns about the financial burden on students. For-profit and private non-profit institutions are found to be the worst offenders, with Walden University being the most extreme case, where students accumulated $289 million in additional loan interest within five years of graduation. The analysis emphasizes the need for students to earn enough to cover their loan payments and calls for greater scrutiny of graduate programs.

via CBS News|
#accountability#education#for-profit-schools
education2 years ago

Connecticut Attorney General Takes Legal Action Against Stone Academy and Paier College Owner

Connecticut's attorney general has filed a lawsuit against the owner of Stone Academy and Paier College Art School, alleging numerous violations of the Connecticut Unfair Trade Practices Act. The for-profit Stone Academy nursing school abruptly closed, leaving hundreds of nursing students in limbo. The attorney general is seeking to attach millions of dollars of assets, including the owner's mansion, to prevent the defendants from evading accountability. The lawsuit claims that the schools engaged in unfair conduct and willfully deceived students. The attorney general is demanding penalties and restitution for the affected students.

via Eyewitness News 3|
#connecticut#education#for-profit-schools
education2 years ago

Supreme Court Approves Student Loan Class-Action Settlement.

The US Supreme Court has refused to block a class-action settlement that forgave $6bn in federal loans for students at for-profit schools or vocational programs. The settlement was prompted in part by an enormous backlog in the government’s processing of applications for relief under the law after the 2015 collapse of Corinthian Colleges after the emergence of extensive evidence of illegal recruiting tactics. Three schools challenged the settlement, which would forgive $6 billion, saying the Biden administration had colluded with plaintiffs and exceeded its authority.

via The New York Times|
#biden-administration#class-action-settlement#education