SEC Gives Former Execs of Corinthian Colleges, a Massive Scam, Slaps on the Wrist | LA Times
Corinthian Colleges was a higher-education scam that defrauded tens of thousands of low-income students out of as much as $100 million in federally backed loans. Many are still struggling with the consequences because the Trump administration is refusing to grant them full relief from their student debt.
What Happens to Students When Private Colleges Close in Arizona? | Arizona Central
Marta Villanueva enrolled in a culinary program at the Art Institute of Phoenix as a way to cope with post-traumatic stress disorder and anxiety after leaving the Army. She used GI Bill benefits to pay for classes, which began in mid-2017. She dreamed of opening a business one day.
Harvard Law School Sues U.S. Department of Justice Over Document Access | Penn Record
A Harvard law project is suing the United States Department of Justice, citing alleged breach of duty. The Project on Predatory Student Lending of the Legal Services Center of Harvard Law School filed a complaint on Dec. 7 in the U.S. District Court for the Western District of Pennsylvania against the United States Department of Justice for alleged violation of the Freedom of Information Act.
Defeated In Court, Education Dept. To Cancel $150 Million Of Student Loan Debt | NPR
The U.S. Department of Education is sending emails to about 15,000 people across the country telling them: You’ve got money. These are former students — and some parents of students — who took out loans for colleges that shut down between Nov. 1, 2013, and Dec. 4, 2018. About half attended campuses run by Corinthian Colleges. They will get their money back or have their debt forgiven — an amount estimated at $150 million, all told — under a provision called Automatic Closed School Discharge.
Dept. of Education to Cancel $150 Million in Student Loan Debt | NBC News
The U.S. Department of Education announced Thursday it would automatically cancel $150 million in student loans connected to for-profit colleges that closed in recent years. The move was made under an Obama-era policy that a federal judge in October essentially forced U.S. Secretary of Education Betsy DeVos to implement. The story was first reported by Politico.
Education Dept. Will Cancel $150 Million in Student Debt After Judge’s Order | New York Times
The Education Department is wiping $150 million in federal student loans off the books, and has begun the process of informing thousands of borrowers that they no longer owe the government money because the schools they attended shut their doors. The loan forgiveness, announced this week, applies to about 15,000 borrowers as federal education officials begin to carry out new rules that they fought in court for more than a year before giving up in October.
Education Department to Cancel $150M of Debt for Borrowers at Closed Schools | Politico Pro
The Education Department plans to expunge the federal student loans owed by thousands of borrowers whose education was interrupted by the closure of their college, carrying out an Obama-era policy that Education Secretary Betsy DeVos had fought to stop. Department officials said Thursday that they will cancel the loans of about 15,000 borrowers who qualified for “closed school” loan discharges but who haven’t yet applied for that benefit. Those student loans total approximately $150 million.
Former ITT Tech Students Get $600M in Debt Relief from Bankruptcy Judge | Indianapolis Business Journal
While the bankruptcy fight over failed for-profit educator ITT Educational Services continues, the biggest group involved in the legal battle has scored a big victory. In late November, a federal bankruptcy judge in Indianapolis gave final approval to a $600 million settlement that will affect about 750,000 former students of ITT Technical Institute.
What Do Students Do When a For-Profit College Closes? | The Atlantic
Jasmine Lee had finally found something she was happy with and wanted to pursue. She had been working as a medical assistant at an orthopedic center, and she was enjoying it. But she wanted more. So she figured she should check out the certificate program at Virginia College in Birmingham, where she works.
Major For-Profit School Chain Closes, Leaving Tens of Thousands of Students Scrambling | The Hill
Thousands of students are reportedly left scrambling after Education Corp. of America (ECA), one of the country’s largest for-profit college chains, announced Wednesday that it would be abruptly closing more than 70 campuses across the United States.