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Students Stunned After Major For-Profit College Chain Closes: ‘They’re Taking Our Dreams Away’ | NBC News

Jasmin Cantú, a student at Brightwood College in Texas, said she was in the middle of taking a medical assistant certification exam Wednesday when a school official came into the classroom in tears, delivering a message Cantú never thought she would hear. The school was shutting down and the last day of classes would be Friday, she said.

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Trump Administration Stymies Release of Salary, Loan Debt Data From Certain Colleges, Advocates Say | CNBC

At a recent conference on financial aid, Education Secretary Betsy DeVos said that every school should help its students graduate with high-quality career prospects and little debt. Students should be equipped, she added, with information that allows them to be responsible consumers.

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Major For-Profit College Chain Collapses, Leaving Students Scrambling | MarketWatch

A major for-profit college chain shut down Wednesday, leaving roughly 20,000 students scrambling to figure out their next steps. Education Corporation of America, the parent company of schools like Virginia College and Brightwood Career Institute, closed its doors after several months of financial turmoil due in large part to declining enrollment.

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Major For-Profit College Chain Abruptly Announces Closure of Dozens of Schools | Associated Press

One of the nation’s largest for-profit college chains announced Wednesday that it was abruptly closing in dozens of locations nationwide, after its accrediting agency suspended approval. Birmingham, Alabama-based Education Corp. of America said it was closing schools operating as Virginia College, Brightwood College, Brightwood Career Institute, Ecotech Institute and Golf Academy of America in more than 70 locations in 21 states.

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For-Profit College Closes Operations, Surprising Students | Associated Press

One of the nation’s largest for-profit college chains announced Wednesday that it was abruptly closing in dozens of locations nationwide, after its accrediting agency suspended approval. Birmingham, Alabama-based Education Corp. of America said it was closing schools operating as Virginia College, Brightwood College, Brightwood Career Institute, Ecotech Institute and Golf Academy of America in more than 70 locations in 21 states.

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Student Loans Watchdog Who Quit Under Trump Plans Own Initiative | The Guardian

A former federal student loan watchdog who loudly quit his job this year has announced a new initiative to help solve the $1.5tn student debt crisis. Seth Frotman, the former student loan ombudsman at the Consumer Financial Protection Bureau, will lead the Student Borrower Protection Center, which also will employ several of Frotman’s former colleagues at the federal bureau.

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Court Eliminates Debt of Former ITT Tech Students | Inside Higher Ed

A federal judge approved a settlement Wednesday that erases more than $500 million in student debt held by former ITT Technical Institute students. The settlement also returns $3 million that was paid by students since the company filed for bankruptcy in 2016.

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ITT Tech Students Score Victory in Bankruptcy Settlement | Washington Post

As creditors of ITT Educational Services fight over the remaining assets of the defunct for-profit college operator, one group has secured a significant victory in the bankruptcy proceedings: former students. On Wednesday, a federal judge gave final approval to a settlement that will erase nearly $600 million that 750,000 students owed ITT Technical Institute. The agreement, which was first announced in January, will also refund $3 million that students paid the for-profit chain.

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Borrowers Face Hazy Path as Program to Forgive Student Loans Stalls Under Betsy DeVos | New York Times

The students attended institutions with pragmatic names like the Minnesota School of Business and others whose branding evoked ivy-draped buildings and leafy quads, like Corinthian Colleges. Tens of thousands of them say they are alike in one respect: They were victims of fraud, left with useless degrees and crushing debts.

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What Defrauded Student Loan Borrowers Need to Know | U.S. News & World Report

Defrauded student loan borrowers will see some relief, thanks to an Obama-era rule a federal judge ordered immediately implemented Tuesday. The 2016 borrower defense rule outlines a way for student borrowers to apply for loan forgiveness if they were defrauded or misled by their college.

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