Students who were defrauded by for-profit schools will have their student loans eliminated

[Yo_Mama_Been_Loggin]

Source: Axios

Students who were defrauded by for-profit colleges will have their federal school loans eliminated, the Education Department announced on Thursday.

Why it matters: The change will eliminate approximately $1 billion in student loan debt for 72,000 borrowers who filed claims, AP reports.

Debts of students whose claims were already approved will be erased.

The department will also review backlogged cases and re-evaluate cases that were denied.

-more-



Read more: https://www.yahoo.com/news/students-were-defrauded-profit-schools-144117886.html

[Hugh_Lebowski]

1. This is freaking excellent news!

Hey, tough luck, Amway Lady. You tried.

[Evolve Dammit]

2. Yes!

[captain queeg]

3. I'd just love to see them go after the for profit schools

like trump U. There should be a concerted effort to regain dollars from these crooked places. Freeze all their assets while they are investigated.

[Joinfortmill]

5. Glad to hear it.

Needs to be an accounting from these so called colleges.

[DENVERPOPS]

6. Once again,

The corrupt, phony, "education"corporations have stolen all the profits and left the taxpayers to pick up the Tab.

20-30 years ago, when as an exec I was given a stack of applications for a position requiring an MBA, I would have my admin asst go through the stack first and throw out any application where the applicant got their MBA from the Univ of Phoenix, next would be a screening of any that got their MBA from an "Executive MBA" program at legit schools.......