Financial Aid

Career College Central Summary:

Here are nine facts related to the student loan debt issues that affect seniors and may therefore influence reform efforts in Washington, D.C.

  1. Federal student loan debt for senior citizens — those age 65 and older — is more than six times higher today than eight years ago, rising to $18.2 billion in 2013 from $2.8 billion in 2005.
  2. The percentage of senior households that carry student loan debt is small when...

Career College Central Summary:

  • Corinthian Colleges is being sued by the federal Consumer Financial Protection Bureau for what it calls a "predatory lending scheme."
  • The CFPB is seeking more than $500 million for borrowers who used the for-profit education company's private student loans.
  • Corinthian misled students about their job prospects, in some cases paying employers to offer temporary jobs to graduates, the agency said Tuesday....

Career College Central Summary:

  • It was an ordinary Friday. Courtney Brown, 24, of Kalamazoo, Mich., was busy looking for a job. "I've applied all kinds of places," she says. "Wal-Mart, Target, Verizon Wireless." Then she got a strange letter in the mail. "
  • 'We are writing you with good news,' " she reads to me over the phone. " 'We got rid of some of your Everest College debt. ... No one should be forced to...

Career College Central Summary:

  • Police at the College of Marin in Kentfield, CA, are investigating an alleged $200,000 federal financial aid fraud scheme involving 23 fake students.
  • The so-called “Pell running” fraud, which is on the rise nationally, typically involves a ringleader who recruits fake students to use their Social Security numbers and other personal information to apply for Pell Grants, staying enrolled just long enough to collect the...

Career College Central Summary:

  • The U.S. Department of Education on Friday announced changes to how it pays the companies that manage student loan payments, responding to growing criticism that its oversight of those companies is inadequate.
  • Officials have renegotiated the government’s contracts with the four main loan servicers, which together collect payments for tens of millions of federal student loan borrowers.
  • The servicers will now also...