Last week, one of the country’s biggest career college chains completed its collapse…
But allegations that the company lied about the success of its programs and trapped students in predatory loans ultimately led to its downfall. Now 16,000 students are left without degrees for programs that many took on debt to complete. Hundreds of others are fighting for the government to forgive debt they are struggling to repay…
“It is supremely unfair for the government to hold students feet to the fire on loans that were made to finance what the government should have known were valueless products,” said Toby Merrill, director of the Project on Predatory Student Lending at Harvard Law School.
Danielle Douglas-Gabriel, This for-profit college failed, but its students are left with the wreckage (Washington Post, May 1, 2015)