Financial Aid

Career College Central Summary:

  • Fifteen students who took out loans to attend for-profit institutions owned by Corinthian Colleges, Inc., announced this week that they are going on a "debt strike." Their action, led by a national group called Debt Collective, is directed specifically against Corinthian. They say the company uses dubious legal and ethical techniques to attract students to its colleges so they can cash in on their federal loans.
  • “...

Career College Central Summary:

  • Noting that “(i)t is not the job of the Department of Education to maximize profits for the government at the cost of squeezing students who are struggling to get an education,” United States Senators Elizabeth Warren (D-Mass.), Sherrod Brown (D-Ohio), Jeff Merkley (D-Ore.), Richard Blumenthal (D-Conn.), Tammy Baldwin (D-Wis.), and Edward J. Markey (D-Mass.) sent a letter asking the U.S. Department of Education to “implement...

Career College Central Summary:

  • Student loans, especially when they come from the government, are a lot like bedbugs: Once you have them, they’re almost impossible to get rid of. Unlike other debts, the government essentially doesn’t allow people to discharge student loans in bankruptcy, and there’s no statute of limitations on these loans, so if you don’t pay them back, they will stick around as long as you do.
  • On Monday, 15 former...

Career College Central Summary:

  • Millions of Americans are plagued by student loans, an albatross hindering them from taking adult financial steps like buying a house or moving out of Mom and Dad’s basement. The Federal Reserve Bank of New York said Tuesday that outstanding student loan balances recently grew to $1.16 trillion in the U.S. But one group is disproportionately affected by student debt.
  • More than 40 percent of African-American families had...

Career College Central Summary:

  • Students who were bilked into taking abusive high-interest student loans out from a leading for-profit college company will get some significant relief, the Consumer Financial Protection Bureau (CFPB) announced Tuesday. A total of $480 million in debt will ultimately be forgiven under the arrangement and 40 percent of the amount will be forgiven immediately for people who took out private loans from Corinthian Colleges’ so-called “...