Vice President Joe Biden played a key role in the financial industry’s four-decade campaign to eliminate bankruptcy protections for student debtors. Above, Biden takes a selfie with students during a visit to the Miami Dade College where he spoke about the importance of helping more Americans go to college...
The Department of Education has the authority to discharge the federal student loan debt of students who are the victims of fraud—and they are doing so or at least planning on doing so in the case of students who attended the now-bankrupt Corinthian Colleges. However, in the case involving the Education Management Corporation (EDMC), the Justice Department reached a settlement with the for-profit college company, without EDMC having to admit to doing any wrongdoing. As a result, it is going to be much harder for students to have the proof they need to get their loans discharged than if the case had gone to trial and the Justice Department had prevailed.
Over the last decade, there have been dozens of such settlements with for-profit college companies – in which...
A $102.8 million loan-forgiveness program and $95.5 million settlement have been drawn up after the Education Management Corporation (EDMC) was accused of using unlawful student recruitment programs.
EDMC currently exists as the second-largest chain of for-profit education in the United States, after Laureate International Universities. With over 100 campuses operating in the United States and Canada, this corporation includes the Art Institutes, Brown-Mackie...
2 Whistleblowers Described Life At A College 'Recruitment Mill' That Paid A Record $95 Million Settlement
By Stephanie Saul - The New York Times
Posted on www.rt.com
By Jason Knowles and Ann Pistone
How the Explosion of the For-Profit Career Colleges Are Swindling Students and Draining the Country's Coffers