Navient Lawsuit Unveils Private Student Loan Borrowers Lied To Navient, formerly known as Sallie Mae Inc. is being sued for not releasing co-signers on private student loans. The company provides service to over 12 million student loan borrowers in the United States and includes over 6 million people under a contract held with the [...]
Higher One Ordered To Compensate Students Approximately 1.5 million students were paying fees in order to access their financial aid through Higher One Inc. The Federal Reserve and Federal Deposit Insurance Corp. is now ordering Higher One Inc. to compensate these students. For the time that Higher One Inc. was falsely advertising their services, 570,000 [...]
According to the Federal Trade Commission, DeVry University used false advertising in their recruiting, which led students to believe they would be more likely to find a job with higher pay if they chose DeVry over another college. Edith Ramirez, FTC Chairwoman, states, “Millions of Americans look to higher education for training that will [...]
A lawsuit was filed against ITT Tech, by former dean of academic affairs, Rodney Lipscomb. Lipscomb claimed that he was fired from the for-profit college, after continually voicing concerns about the fraudulent practices he was seeing regarding the admission of students. He alleged that students who couldn’t write understandable sentences were still enrolled at [...]
One of the most famous cooking schools, Le Cordon Bleu, is closing all of their school campuses throughout the United States . It is one of the many for-profit colleges that have recently closed. Many of these for-profit schools have been under scrutiny the last few years over their recruiting strategies and finances. Le Cordon [...]
Over the past couple of decades, one thing that has certainly served to contribute to the current student loan crisis has been the prevalence of for-profit schools making pie-in-the-sky promises to students in order to get them to enroll and then bailing out on those assurances once they’ve received their tuition money. A number of [...]
For a lot of former college students, the maze of student lending can become so byzantine that it becomes very easy to lose track of the loans that you’ve taken out, who they were from and when they’re due. Some graduates even find themselves in a bad position well after they’ve completed their schooling, based [...]
When the Consumer Financial Protection Bureau put out a request for the general public to submit statements describing their experiences with student loan debt, one of the people who replied was actually a man who wasn’t carrying any student loan debt of his own. Instead, he’s a consumer rights attorney from California who explained that [...]
ITT Technical Institute has built an entire business out of its claims that it is there to “change people’s lives.” As a matter of fact, this for-profit college can honestly say that that’s what it’s doing, just not in the way that most of their students ever would have guessed. ITT is now facing a [...]
Man Enrolls In ITT With High Hopes and Graduates With Crippling Debt and No Job Prospects One of the most common complaints to the Consumer Financial Protection Bureau regarding student loans has to do with for-profit colleges that are accused of misleading their students and saddling them with huge private loan debt. Not only [...]
