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Project on Predatory Student Lending

Florida For-Profit Colleges Sued for Selling Predatory Product and Targeting Black Students | Press Release

Press Releases
Project on Predatory Student Lending

Student Borrower Class Forces Department of Education to Process All Pending Borrower Defense Claims | Press Release

Press Releases
Project on Predatory Student Lending

Statement on the COVID-19 Economic Stimulus Package and Student Loan Relief | Press Release

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.

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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.

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Two Key Hearings Scheduled for Monday on Department of Education’s Illegal Attempts to Deny Relief to Former Corinthian Students | Press Release

Two Cases Involve Department’s Abuse of Former Corinthian Students and its Refusal to Discharge Their Debt BOSTON – There are two major court hearings scheduled for Monday involving the Department of Education’s abuse of former Corinthian students and its insistence on continuing to collect on the debts of the defrauded students. The two cases are…

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.

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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.

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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.

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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.

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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.