June 30, 2015 by Lynn Jennings
Corinthian Colleges has become the poster child for what’s wrong with the for-profit college industry. It misrepresented its job placement — the eligibility criteria for it to receive federal funds — and abruptly closed its doors when the federal government demanded some accountability.
The immediate victims of this business’ collapse are the thousands of students left with debt, worthless degrees, or both. The secondary victims are taxpayers.
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...
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: