The For-Profit University Student Loan Debacle

When graduates aren’t getting the jobs they were promised, are institutions guilty of fraud?

Source: The For-Profit College Conundrum

The momentum has been building for quite some time for the federal government to crack down on for-profit colleges’ marketing tactics. Last year, thousands of for-profit students applied to have their federal student loans forgiven on the grounds that they were recruited under false (and illegal) pretenses. In December, the Department of Education agreed to forgive $28 million worth of federal loans provided to students who attended the now-defunct Corinthian College. And last month, the Federal Trade Commission and the Department of Education announced that it would take action against DeVry University for deceptive marketing claims.

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