Project on Predatory Student Lending
Statement on the COVID-19 Economic Stimulus Package and Student Loan Relief | Press Release
Project on Predatory Student Lending
Student Advocates Challenge DeVos’ Borrower Defense Rule | Press Release
The Washington Post
DeVos and Education Dept. could face new sanctions for violating a court order | The Washington Post
Former executives of defunct for-profit college firm ITT settle fraud charges with SEC | Washington Post
Former top executives at ITT Educational Services, the parent company of defunct ITT Technical Institute, have settled fraud cases with the Securities and Exchange Commission, avoiding a trial slated to begin Monday. A judgment order entered Friday puts to rest civil fraud charges filed in 2015 against former ITT chief executive Kevin Modany and former chief financial officer Daniel Fitzpatrick for allegedly deceiving investors about high rates of late payments and defaults on student loans backed by the company.
Student Who Took on ‘Crushing’ Debt Angry After Betsy DeVos Scales Back Investigations of For-Profit Colleges | Time
Yvette Colon took out more than $35,000 in student loans and spent two years at a for-profit college to get a certificate that she says is worthless. Now, she fears even more students could fall into a similar trap after Education Secretary Betsy DeVos reportedly crippled the office charged with investigating the company behind Colon’s now-defunct college, Career Education Corporation, and several other for-profit institutions.
For-Profit Colleges Struggle Despite Assist From DeVos | The Chicago Tribune
The for-profit college industry is struggling under the weight of declining enrollment, stiff competition from traditional universities and an image battered by past misdeeds, even as the Trump administration tries to offer a helping hand.
On ITT and the Education Department, No More Excuses [Op-Ed] | The Washington Post
For years, predatory for-profit colleges have exploited the promise of higher education, cheating students and leaving them in mountains of debt they never should have had. Making it worse, the industry has been enabled by a Department of Education that has made excuse after excuse about why it can not step in to help students.
Students from Defunct ITT Tech Get a Shot at Claiming School’s Remaining Assets | The Washington Post
A federal judge approved a settlement Wednesday allowing former students at ITT Technical Institute to participate in the bankruptcy proceedings of its parent company, giving them a shot at the remaining assets of one of the nation’s largest for-profit college operators.
ITT Students’ $1.5 Billion Settlement Heard by Judge In Bankruptcy Settlement Today | Press Release
More than $500 Million In Student Debts Would Be Cancelled Due To ITT’s Fraudulent Actions; Landmark Settlement Builds Case For Department Of Education To Cancel Loans of Former ITT Students
Update | ITT Students’ $1.5 Billion Settlement Heard by Judge In Bankruptcy
Today, former ITT students proposed a $1.5 billion settlement claim in bankruptcy court that would cancel more than $500 million in debts. All participants in the case and members of the class have until April 24 to submit their views of the settlement with the court before it is heard for final approval on June 13. This is good news for former ITT students, but there is still a long way to go.
Bankruptcy Court Settlement Could Bring Relief to Some ITT Students | The Boston Globe
Thousands of students nationwide who attended the now-defunct ITT Technical Institute would have nearly $600 million in loans canceled under a proposed court settlement, a significant win for consumers in Massachusetts and elsewhere who have long claimed that the for-profit chain defrauded them out of money and an education.
Update | Proposed Settlement to be Heard January 24
A year ago former ITT students filed a complaint against ITT and a class Proof of Claim in the ITT bankruptcy case. In this last year we have worked hard to fight on behalf of the Student Class, including urging the Trustee to stop collection on all debt owed directly to ITT.
Duped into Paying for Worthless Degrees, these Former For-Profit College Students Could Get Their Money Back | MarketWatch
Former students of a for-profit college who say they were duped into paying for worthless degrees could get some of their money back, thanks to a recent motion in the now-defunct school’s bankruptcy case.