Project on Predatory Student Lending
Judge Orders That Department of Education Cannot Resume Issuing Borrower Defense Denials Without Notifying Court and Borrowers | Press Release
Optimism and Hope: “Fail State” Forum and Panel Look Ahead | Blog
“Attacking the Concept of Debt” | Harvard Magazine
Devos Under Fire for Obstacles to Student Debt Relief | Courthouse News Service
A federal judge blocked the Education Department on Monday from dismantling an Obama-era regulation intended to protect student-loan borrowers from predatory lending practices. “The court concludes that, as with most unlawful agency actions, the proper remedy here is vacatur,” U.S. District Judge Randolph Moss wrote.
Update | Judge Rules for Project’s Clients; Strikes Down Department of Education Illegal Delay of 2016 Borrower Defense Rule
In another major rebuke to DeVos, the Project wins Bauer v. DeVos case Judge rules that the Department of Education’s delays in implementing 2016 borrower defense rule were illegal and caused serious harm to borrowers In a victory for student borrowers, and another massive rebuke to Betsy DeVos, a court this week ruled that…
Judge rules that DeVos delay of Obama-era student loan rules is ‘unlawful’ | Politico Pro
A federal judge today ruled that Education Secretary Betsy DeVos’ various delays of Obama-era regulations governing loan forgiveness for defrauded borrowers were illegal.
These For-Profit College Students Hope for Debt Relief as a Debate About Their Loans Rages in Washington | MarketWatch
Seth Pontiff has been waiting for three years to hear whether the $80,000 in loans he took out attending ITT Technical Institute — a for-profit college that closed in 2016 amid allegations of false advertising — will be discharged by the government.
DeVos Proposes to Curtail Debt Relief for Defrauded Students | New York Times
Education Secretary Betsy DeVos proposed on Wednesday to curtail Obama administration loan forgiveness rules for students defrauded by for-profit colleges, requiring that student borrowers show they have fallen into hopeless financial straits or prove that their colleges knowingly deceived them.
SEC’s $300,000 ITT Settlement Leaves Trail of Questions | Indianapolis Business Journal
The Securities and Exchange Commission came at ITT Educational Services Inc.’s two top executives with guns blazing three years ago, declaring that CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick “engineered a campaign of deception and half-truths.”
Students Cry for Debt Relief After For-Profit College Collapse, While Executives Admit No Wrongdoing | Market Watch
As a young high school graduate, Joseph Schettler had dreams of working for the FBI or becoming a forensic psychologist. He took steps to make those dreams a reality. Schettler became the first person in his family to go to college, enrolling in the criminal justice program at ITT Tech in 2006 with assurances from the school that he would surely get a job in his field.
ITT Execs Offered ‘Sweetheart Deal’ | Politico
That’s how lawyers representing defrauded ITT students are describing the settlement reached late last week between the Securities Exchange Commission and two former senior executives of ITT Educational Services Inc., the company behind a troubled for-profit college that shuttered in 2016.
In Another Injustice For ITT Students, Predatory ITT Executives Get July 4 Weekend Gift While Defrauded Students Left Holding The Bag | Press Release
Late on Friday, it was announced that the SEC had settled its case against former ITT executives Kevin Modany and Daniel Fitzpatrick for cheating the company’s shareholders and operating the company for their own personal financial benefit. The settlement, reached on Friday, July 6 just before the trial was set to start today, lets them walk away with a slap on the wrist.
Top ITT Executives Agree to Fines, Ban From Top Corporate Jobs in SEC Settlement | Indy Star
The top executives of the defunct Carmel company that operated ITT Technical Institute have settled fraud charges with the Securities and Exchange Commission. Former CEO Kevin Modany will pay $200,000 and former Chief Financial Officer Daniel Fitzpatrick will pay $100,000 to resolve allegations that they concealed ITT Educational Services’ worsening financial condition from investors in the years leading up to the company’s collapse.