For-Profit College Ordered to Refund Student Loans

Michael Lux Blog, For-Profit Schools, News, Student Loans 0 Comments

Ashford University and the University of the Rockies, operated by Bridgeport Education has been ordered by the Consumer Financial Protection Bureau (CFPB) to pay back over $23 million in private student loans.  Additionally, the for-profit school will be required to pay an $8 million civil penalty to the CFPB. According …

Department of Education Approves Loan Forgiveness for 250,000 Students

Michael Lux Blog, For-Profit Schools, News, Student Loans 0 Comments

The longstanding battle between former students of Corinthian College and the Department of Education seems to have finally reached an end.  This week the Department of Education announced findings that 91 Corinthian Campuses defrauded students.  This is a huge milestone, because it means that students who attended a Corinthian school …

For-Profit Colleges Strike Back Against Obama

Michael Lux Blog, For-Profit Schools, News, Student Loans 1 Comment

For-Profit colleges are waging a two-front war against President Obama’s plan to limit Federal Student Loan spending at schools with high tuition, poor graduation statistics, and lousy job placement rates. Last month, the for-profits launched their first attack on Obama’s new regulations by filing a lawsuit against the Department of …

Pain Points Recruiting: A For-Profit Scheme to Dupe Students

Michael Lux Blog, For-Profit Schools, Student Loans 1 Comment

For-profit Colleges have been taking a beating in the press and been the subject of multiple lawsuits brought by the Consumer Financial Protection Bureau.  Among the chief complaints about these schools is that they mislead students into paying for an overpriced education with a low graduation rate and terrible employment …

Preying Upon Veterans: A For-Profit Scam

Michael Lux Best Of, Blog, For-Profit Schools, News, Student Loans, Veterans 14 Comments

Memorial Day weekend seems like a fitting time to shed some light on a disgusting trend.  For-Profit schools have been targeting Veterans for their GI Bill benefits, charging them 4x what a not-for-profit university would, and often they don’t leave with a degree or get any meaningful help finding work. …