For Profit Colleges
October 28, 2015 by I Am Not A Loan
Federal consumer regulators on Wednesday won a major court battle against Corinthian Colleges Inc., the former national for-profit chain that entered bankruptcy this year amid claims of defrauding students.
A federal judge in Illinois ruled that Corinthian “engaged in deceptive practices” by misleading students about their career prospects, according to documents obtained by The Wall Street Journal.
June 08, 2015 by I Am Not A Loan
Earlier today, the U.S. Department of Education announced new steps to protect students from abusive for-profit colleges, as well as a new debt relief process for students at Corinthian Colleges – which operated schools under the names Everest, Heald, and Wyotech.
Information for borrowers is available at the Federal Student Aid (FSA) website...
May 07, 2015 by I Am Not A Loan
When you’re told that your college will be shutting down, there can be a lot of uncertainty about what comes next. In light of recent closures of certain for-profit colleges, we wanted to share some helpful advice to help you navigate the situation.
May 05, 2015 by Gail Zuagar
Imagine this: You’re 24, have your high school diploma, and have been working in a low-wage job for six years when you see an advertisement for a new career training program at a local, for-profit university. The ad promises to teach the latest, cutting-edge skills that will guarantee you a high-paying career...
November 04, 2014 by
The post and video below are from CNNMoney.
Students across the country are shelling out tens of thousands of dollars for degrees that end up being completely worthless.
November 04, 2014 by Latasha Myers
It is a well-known fact that many for-profit colleges fail to live up to their end of the deal with students. These for-profits lure students into enrolling with the promise of landing a high-paying job after they graduate. But come graduation — or for the many who leave without finishing — all a lot of students are left with is a mountain of debt. Oftentimes for-profits’ primary interest is to bring in the federal financial aid dollars students receive — like those from Pell Grants, federal student loan dollars, and veterans benefits — while educating students becomes secondary or worse. This is particularly worrisome for African American and Latino students who make up 21 percent of total postsecondary enrollment, yet they represent 41 percent of students at for-profit institutions.
October 22, 2014 by Latasha Myers
If you watch daytime or late-night TV, you’ve seen the slick, 30-second commercials that promise down-on-their-luck viewers a fairy godmother-like solution – a quick, affordable, college-level education that provides hands-on experience and positions students to land their dream job. If you want proof of the quality of these career education programs, the commercials continue, look no further than the myriad of success stories of their graduates.
Yesterday’s Boston Globe article, “For-profit colleges get harsh grades by former students: Graduates complain of onerous debt, unmet promises about careers,” paints a more realistic story of what actually happens to former students of these schools, such as:
July 08, 2014 by Latasha Myers
With the public comment period for the proposed “gainful employment” regulations long closed, we have time to look back at what we’ve accomplished and see what work is still to be done.
With the help of borrowers, students, parents, and advocates from around the country, tens of thousands of comments were submitted to the U.S. Department of Education urging them to issue a stronger final “gainful employment” rule.
July 07, 2014 by
The U.S. Department of Education plans to release its final "gainful employment" rule in October 2014. The draft rule, circulated by the department earlier this year, proposed cutting off access to federal financial aid for career-education programs (many of which are at for-profit colleges) whose graduates have high student loan default rates or high levels of student loan debt relative to their incomes. It is essential that the department adopt a final rule with strong protections for students.
During the month of May we asked students to submit their stories as public comments on the department’s draft “gainful employment” rule. Many of the student victims who have been exploited and defrauded by career-education programs offered compelling evidence of the need for stronger protections. Here’s what some of them had to say:
May 27, 2014 by
Students traveled to Capitol Hill last week to tell Congress the hardships they have faced because the career education programs in which they were enrolled left them with nothing more than high debt and little, if any, real career preparation. Unfortunately, we know far too well that their stories aren’t unique. Students all across this country enrolled in predatory career education programs have similar experiences.
May 15, 2014 by Latasha Myers
There are less than two weeks left for the public to weigh in on the U.S. Department of Education’s proposed “gainful employment” regulation. The creation of this rule was an important step toward ensuring that career education programs, many of which are at for-profit colleges, are held accountable for preparing students for work without saddling them with unmanageable student loan debt.
Still, the department needs to do more to make sure that students are adequately protected. According to a statistic reported by Young Invincibles, only 1 in 10 students go to a for-profit college, but yet they account for 46 percent of all federal student loan defaults. Read more...
TODAY, don’t miss a press conference with Young Invincibles, joined by Sens. Tom Harkin, Dick Durbin, Chris Murphy, and Brian Schatz, who will call on the U.S. Department of Education to release stronger protections for students against predatory career education programs. Join them at 10:30 a.m. today in room S-115 at the U.S. Capitol.
May 09, 2014 by
The U.S. Department of Education recently released its draft regulation that will take federal aid dollars away from career education programs that rip students off — many of these are for-profit colleges. While this is good news, the department has not gone far enough to protect students who frequently leave these programs with a meaningless degree (or no degree at all) and huge sums of debt. Students desperately need a strong rule to ensure that the schools they are going to meet minimal standards of quality and cost. Taxpayers also need a strong rule to make sure that they are seeing value for the billions of federal dollars that these schools collect from student financial aid. Click here to send a letter to the department now.