Higher Education in the United States was once considered a civic activity intended to improve people’s lives and benefit society. Then some people realized they could make money in the education racket, and the for-profit-college industry was born. Who makes money from for-profit colleges? Mostly hedge funds, equity funds, and institutional stockholders. Let’s look at …
The FTC made the announcement below that seems to open the door for students with federal student loans to explore the possibility of applying for a Borrower Defense Loan Discharge. The Federal Trade Commission put 70 for-profit higher education institutions on notice that the agency is cracking down on any false promises they make about …
I’ve been writing more about bankruptcy cases that have resulted in student loan discharges, see here. And in doing some more research I came across another case from 2012. In the Northern District of Georgia a consumer was able to get the following loans discharged: Oakland Community College – $754.80 Texas Guarantee Student Loan – …