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Project on Predatory Student Lending

Students Challenge Education Department’s Latest Scheme to Deny Student-Loan Relief | Press Release

Press Releases
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

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.

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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.”

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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.

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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.

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DOJ Must Give Harvard FOIA Docs On For-Profit College | Law360

A Pennsylvania federal judge ruled Monday that the U.S. Department of Justice must turn over some of the documents a Harvard Law School legal clinic had sought from a whistleblower lawsuit over a struggling Pittsburgh-based for-profit college provider’s student recruitment and loan policies.

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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.

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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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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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