Search results for: for-profit college

Betsy DeVos May Only Offer Partial Loan Refunds To Defrauded College Students

Betsy DeVos May Only Offer Partial Loan Refunds To Defrauded College Students

Education Secretary and champion of for-profit colleges Betsy DeVos is once again siding with this controversial industry and against students who were defrauded by schools that tricked them into paying top dollar for a bottom-dollar education. [More]

(D. Michelson)

25 States Urge Betsy DeVos To Not Let Student Loan Companies Sidestep The Law

Since Betsy DeVos took over as Secretary, the Department of Education has been — to put it mildly — generous to the student loan industry. Through DeVos, the Trump administration has stopped cooperating with federal financial regulators to rein in unscrupulous loan servicers, and announced its plan to put all federal student loan accounts into the hands of a single company. But several states are letting it be known that they will not go easy on student lenders and servicers, even if they ask nicely. [More]

Betsy DeVos Delays Student Loan ‘Borrower Defense’ Rule Until At Least 2019

Betsy DeVos Delays Student Loan ‘Borrower Defense’ Rule Until At Least 2019

Despite the pleas — and legal actions — of lawmakers, consumer advocates, and students, Secretary of Education Betsy DeVos quietly announced Friday that the Department of Education will further delay, by nearly two years, rules intended to prevent students at unscrupulous schools from being left with nothing but debt if their college collapses. [More]

States Accuse Betsy DeVos Of Failing To Protect Students From Sketchy For-Profit Schools

States Accuse Betsy DeVos Of Failing To Protect Students From Sketchy For-Profit Schools

Education Secretary Betsy DeVos has made no effort to hide her support for the for-profit education industry, going so far as to hit “reset” on rules intended to protect students from schools that provide minimal education at a maximum cost. Now, a coalition of 18 state attorneys general are suing DeVos and the Dept. of Education, alleging they failed to hold these schools accountable. [More]

Adam Fagen

Bank-Backed Congressman Praises Betsy DeVos For Cutting Ties With Consumer Protection Agency

Congressman Jeb Hensarling of Texas, whose campaign has received more than $8 million from the financial sector since 2010, has long endeavored to undercut the Consumer Financial Protection Bureau, an agency that regulates many of the businesses that keep Hensarling’s election campaigns flush with contributions. So it’s of little surprise that the lawmaker is thrilled at Education Secretary Betsy DeVos’ recent decision to stop working with the CFPB on student loans — even though the Bureau has returned hundreds of millions of dollars to screwed-over student borrowers. [More]

Student Loan Debt Relief Operations Allegedly Bilked $95M From Borrowers

Student Loan Debt Relief Operations Allegedly Bilked $95M From Borrowers

The federal government and 11 states have joined together to accuse 30 purported debt relief operations of using deception and false promises to swindle more than $95 million from student loan borrowers. [More]

bluwmongoose

Student Loan Defaults Increase For First Time In Five Years; 8.5M Borrowers Now In Default

For the first time in half a decade, the rate of education loan defaults among recent college students has risen, highlighting the struggle many recent graduates face when it comes to paying their educational debts. [More]

MeneerDijk

States Ask Betsy DeVos To Not Drop Protections For Student Loan Borrowers

Earlier this month, Secretary of Education Betsy DeVos declared that the Department of Education would no longer work with the federal Consumer Financial Protection Bureau to root out bad players in the student loan servicing arena. While the CFPB fired back, accusing DeVos of misunderstanding just what the Bureau does, a coalition of state attorneys general are now joining the choir, claiming the decision to end the agencies’ agreements undermine protections for student borrowers.  [More]

fblumongoose

Disgraced College Accreditor Asks Betsy DeVos For Second Chance

Last year, the Department of Education revoked federal recognition for the accrediting body that ignored red flags at failed for-profit educator Corinthian Colleges and allowed billions in federal aid dollars to schools under investigation. Now, Accrediting Council for Independent Colleges and Schools is back, asking new Education Secretary Betsy DeVos for another chance. [More]

Betsy DeVos Refuses To Work With Consumer Protection Agency On Student Loans

Betsy DeVos Refuses To Work With Consumer Protection Agency On Student Loans

The Department of Education will no longer work with the federal Consumer Financial Protection Bureau to root out bad players in the student loan servicing arena. That’s according to Education Secretary Betsy DeVos, who recently notified the CFPB that her department is ending years of formal cooperation combating student loan fraud.  [More]

Jason Cook

Education Dept. Hires Exec From Scandalized For-Profit School To Run Enforcement Division

Dedicated and effective government employees can come from many prior walks of life, it’s true; the path through any career can be winding and complex. But choosing someone with major ties to a for-profit college that engaged in questionable behaviors to head up a division tasked with investigating for-profit colleges that engage in questionable behaviors seems like a bad sign. [More]

HerArtSheLoves

$183M Settlement Means 41,000 Former Corinthian Students Will Get Private Loan Forgiven

Nearly 41,000 former students of now-defunct for-profit educator Corinthian Colleges will soon receive refunds for the private student loans they received to attend college, after a coalition of state attorneys general and federal agencies reached a $183.3 million settlement with Aequitas Capital Management, the issuer of these loans.  [More]

Education Secretary Betsy DeVos Will Allow For-Profit Schools To Continue Offering Programs That Don’t Meet Standards

Education Secretary Betsy DeVos Will Allow For-Profit Schools To Continue Offering Programs That Don’t Meet Standards

Earlier this year, Education Secretary Betsy DeVos revealed plans to “reset” the Gainful Employment rule meant to hold for-profit colleges more accountable for the education they provide students. Today, she continued tearing apart the rule, announcing the intention to allow colleges to continue enrolling students in programs that run afoul of the regulation. [More]

aresauburn™

Dept. Of Education Hasn’t Approved A Loan Forgiveness Claim In Six Months

When Education Secretary Betsy DeVos hit “reset” on revamped Borrower Defense rules that aim to ensure students at troubled schools weren’t left with nothing but debt if their college collapsed, she noted that students who had already submitted claims for loan forgiveness wouldn’t be affected. But that doesn’t appear to be the case, as the Dept. hasn’t approved a single application in nearly six months.  [More]

Everest College Changes Name To Altierus Two Years After Turning Nonprofit

Everest College Changes Name To Altierus Two Years After Turning Nonprofit

More than two years after Education Credit Management Corporation swooped in to purchase 56 Everest and WyoTech campuses previously owned by defunct for-profit college chain Corinthian Colleges, the company has finally changed the remaining schools’ names in a belated attempt to shed the stigma associated with the for-profit chains.  [More]

(D. Michelson)

Dozens Of Organizations Come Out In Support Of Gainful Employment, Borrower Defense Rules

A week after two separate lawsuits were filed by 19 state attorneys general and a group representing students accusing Education Secretary Betsy DeVos of breaking the law by delaying protections for student loan borrowers, a coalition of more than 50 consumer groups have stepped forward to join the opposition against a “reset” of regulations put in place to protect students at for-profit colleges.  [More]

States Say Education Secretary Betsy DeVos Broke Law By Delaying Protections For Student Loan Borrowers

States Say Education Secretary Betsy DeVos Broke Law By Delaying Protections For Student Loan Borrowers

Following Education Secretary Betsy DeVos’ decision to “reset” new regulations put in place to protect students at for-profit colleges, two separate lawsuits now accuse the Secretary of breaking federal law by running roughshod over the regulatory process when she delayed the so-called Borrower Defense rule, which would have made it easier for defrauded students to get out from under their student loan burdens. [More]

Joachim Rayos

With DeVos Unwilling To Defend Rules, States Try To Protect Students Defrauded By For-Profit Colleges

Education Secretary Betsy DeVos has made it clear that she has no intention to defend regulations put in place to protect students at failed for-profit colleges. But a number of states are now attempting to step in to do the job the Department of Education won’t. [More]