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]
Federal Student Aid
Student Loan Defaults Increase For First Time In Five Years; 8.5M Borrowers Now In Default
By 9.28.17
Head Of $1.3 Trillion Federal Student Aid Office Resigns Amid Tension With Betsy DeVos
By 5.25.17
New Education Secretary Betsy DeVos is making sweeping changes to federal student aid programs, like taking away protections from borrowers and putting all loan servicing in the hands of one private firm. Now the top official at the Office of Financial Aid has resigned after reportedly butting heads with DeVos and warning his colleagues concerns with the Department’s management. [More]
Senators: No More Federal Funding To For-Profit Colleges That Strip Students Of Legal Rights
By 2.12.16
If your college breaks the law, you should be able to pursue a legal action in court. But following the lead of banks, wireless providers, and cable companies some for-profit colleges have been stripping students of their legal rights and forcing them into arbitration. These schools should not receive federal funding, says one group of lawmakers. [More]
More Trouble For ITT Education Services: Agency Restricts For-Profit’s Use Of Federal Student Aid
By 10.20.15
Just a month after for-profit college operator ITT Education Services announced it had become the focus of a federal fraud investigation, the Department of Education revealed it had placed restrictions on ITT Technical Institute’s use of federal grants and loans. [More]
University Of Phoenix Faces Probe Into Military Recruiting Practices
By 8.10.15
A little more than a week after federal regulators set their sights on the University of Phoenix for possible deceptive and unfair business practices, the California Attorney General’s office is joining the investigation party by opening a probe into the for-profit college’s military recruitment practices. [More]
Regulators Investigating University Of Phoenix’s Business Practices
By 7.30.15
Apollo Education Group, owners of the country’s largest for-profit college – University of Phoenix – is the latest target for federal regulators set on reining in the for-profit education industry for engaging in allegedly deceptive marketing practices. [More]
Dept. Of Education Reveals Names Of 550 Colleges — Mostly For-Profits — Under Federal Scrutiny
By 4.7.15
For months now, Congress has debated the merits of creating an oversight committee tasked with improving coordination in federal and state oversight of the for-profit college industry. If that group ever comes to fruition, it appears they would likely have their work cut out for them, as the Department of Education recently released its previously secret list of colleges under scrutiny for financial reasons, half of which are for-profit schools. [More]
