“Attacking the Concept of Debt” | Harvard Magazine
Only a few years ago, Douglas Jones, who worked night shifts as a security guard at a nursing home in Roxbury, was hesitant to spend even $10 more than his typical budget allowed. Payments on his student loan debt were being withdrawn directly from his bank account. If the balance was short—for instance, if Jones hadn’t managed to get 40 hours at his job that week—the bank charged an overdraft fee. The debt had ruined his credit score and he hadn’t had a credit card in years. “They were even taking money I didn’t have,” Jones says. “It was stressing me the hell out.” Along with millions of other Americans, Jones had fallen prey to the for-profit college industry, which is in essence a two-pronged system—federal loans at one end and for-profit schools designed to access those loans at the other.
Corinthian Students Will Only See Partial Loan Relief | Associated Press
The Department of Education has begun notifying some former Corinthian Colleges students that it will forgive only one-half or less of their federal student loans, even though the students were defrauded by the now-defunct schools, the Associated Press has learned.
Big Holdup for Borrowers Claiming For-Profit College Fraud | Associated Press
Tens of thousands of former students who say they were swindled by for-profit colleges are being left in limbo as the Trump administration delays action on requests for loan forgiveness, according to court documents obtained by The Associated Press.
Promised College Loan Forgiveness, Borrowers Wait and Wait | Associated Press
Danielle Ramos’ student-debt nightmare was supposed to be over. Like thousands of others who studied at failed for-profit colleges, she was promised by the U.S. Education Department under President Barack Obama that her federal loans would be forgiven by now. But as the weeks tick by with no reprieve, the 30-year-old college student fears the financial burden will force and her 4-year-old son to move back with her parents.
U.S. Halts New Rules Aimed at Abuses by For-Profit Colleges | The New York Times
The Trump administration is formally reconsidering — and may dismantle — two new rules that were a cornerstone of the Obama administration’s crackdown on predatory for-profit colleges.
Court Smacks Down Feds’ Attempt to Delay Ruling on Student Debt Relief for Single Mom | MarketWatch
A single mother of four whose wages are being garnished by the government over student loans she took out to attend a college that’s since been accused of fraud is entitled to a swift answer about whether her loans are eligible to be discharged, a federal court ruled Friday.
Court Orders Education Department to End Delay in Ruling on Loan Discharge | Inside Higher Ed
A federal district court judge last week ordered the Department of Education to rule within 90 days on an application for loan relief by a former Corinthian Colleges student. The application has been pending for more than two years.
Parents Poised to Gain Easier Access to College Loans | The Wall Street Journal
Amid Enrollment Pinch, Tighter Standards Put on Borrowing Program in 2011 in Line to Be Loosened. The Obama administration is moving to ease access to student loans for parents with damaged credit, a policy reversal that could saddle poor families with piles of debt but also boost college enrollment.