Students ask Education Department to discharge college debt
Sept 3, 2015 9:23:28 GMT -6
Nugget, 727sky, and 3 more like this
Post by Deleted on Sept 3, 2015 9:23:28 GMT -6
Now you might first think this is just another story of people looking for a free ride or an easy time on debt they owe. In a way, that is true..and they DO owe this by having signed the line to say they would repay it.
However...they signed the line being led to believe one thing, to find they were suckered into a very sophisticated, very highly polished scam to run them through student loan money and dump them out the other end.
They may have a valid point to be asking for this..
My wife attended what is now Everest College when it had a different name in Portland Oregon. She was a first time college student (how they term the first in a family line) and was so proud of herself, she could have burst...and maintained that level of pride throughout her time there. She had to leave to attend to a complicated child birth resulting in very special needs to our child...but she was still proud of what she'd done, while intending to go back.
It wasn't until quite a bit later she discovered no reputable institution she could find would even look at or consider her credits, in any subject. Even general education subjects. It was all for nothing. Her mother attended with her for a paralegal degree...she couldn't get hired with to do office scut work.
I share this for how personally this one hits, and I too have student debt. Quite a bit of it, in fact, and more to come. I'll pay mine, whatever that takes to maintain...because I agreed to, and the school has acted in 100% good faith, at every step. I'd have no reason to feel swindled and outright robbed....
Source
I'd say these kids got robbed. That STILL doesn't necessarily explain why tax money should reimburse it ...except to note one of Obama's earliest moves was to all but outright nationalize the Student loan industry and student financing for higher education. So, to appeal to the ones chasing the money? It IS appealing to the Federal Government at this stage.
What a deal, eh?
However...they signed the line being led to believe one thing, to find they were suckered into a very sophisticated, very highly polished scam to run them through student loan money and dump them out the other end.
They may have a valid point to be asking for this..
Almost 12,000 students are asking the federal government to discharge their college loan debt, asserting that their school either closed or lied to them about job prospects, according to government data released Thursday.
The figure represents an unprecedented spike in what's called a "borrower's defense" claim following the collapse of Corinthian Colleges, a for-profit college chain that had become a symbol of fraud in the world of higher education. Under higher education law, students who believe they were victims of fraud can apply to have their loans discharged.
The figure represents an unprecedented spike in what's called a "borrower's defense" claim following the collapse of Corinthian Colleges, a for-profit college chain that had become a symbol of fraud in the world of higher education. Under higher education law, students who believe they were victims of fraud can apply to have their loans discharged.
My wife attended what is now Everest College when it had a different name in Portland Oregon. She was a first time college student (how they term the first in a family line) and was so proud of herself, she could have burst...and maintained that level of pride throughout her time there. She had to leave to attend to a complicated child birth resulting in very special needs to our child...but she was still proud of what she'd done, while intending to go back.
It wasn't until quite a bit later she discovered no reputable institution she could find would even look at or consider her credits, in any subject. Even general education subjects. It was all for nothing. Her mother attended with her for a paralegal degree...she couldn't get hired with to do office scut work.
I share this for how personally this one hits, and I too have student debt. Quite a bit of it, in fact, and more to come. I'll pay mine, whatever that takes to maintain...because I agreed to, and the school has acted in 100% good faith, at every step. I'd have no reason to feel swindled and outright robbed....
According to investigators, Corinthian schools charged exorbitant fees, lied about job prospects for its graduates and, in some cases, encouraged students to lie about their circumstances to get more federal aid. After the Education Department notified Corinthian that it would fine its Heald College $30 million for misleading students, the college chain filed for bankruptcy, with some 13,500 students still enrolled.
In a plan orchestrated by the federal government, some of the Corinthian schools closed while others were sold before the chain filed for bankruptcy this spring. The biggest question has been what should happen to the debt incurred by students whose schools were sold. The law already provides for debt relief for students of schools that close, so long as they apply within 120 days.
In a plan orchestrated by the federal government, some of the Corinthian schools closed while others were sold before the chain filed for bankruptcy this spring. The biggest question has been what should happen to the debt incurred by students whose schools were sold. The law already provides for debt relief for students of schools that close, so long as they apply within 120 days.
I'd say these kids got robbed. That STILL doesn't necessarily explain why tax money should reimburse it ...except to note one of Obama's earliest moves was to all but outright nationalize the Student loan industry and student financing for higher education. So, to appeal to the ones chasing the money? It IS appealing to the Federal Government at this stage.
What a deal, eh?
