Monday, April 27, 2015

Corinthian Colleges closing - also Everest, WyoTech and Heald

You can say that again
The L.A. Times reports:

Corinthian closing its last schools; 10,000 California students displaced

excerpt: "The loans were both the lifeblood and the downfall of the troubled Orange County company. Easy access to student debt fueled high tuition and big profits — until the federal government cut off the tap last year, as investigators accused Corinthian of falsifying job placement rates. Many students, attracted by the promise of higher-paying work, now find themselves with heavy debts for degrees of dubious worth. Many others won't graduate at all."

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2 comments:

Anonymous said...

Good riddance to bad rubbish. I am always ashamed at seeing others recommend these so-called "institutions" of higher learning. Sometimes I wonder if they get some kind of a kickback or reward when students enroll.

McCarthy Law said...

I applaud any attempt aimed at reducing the scourge of student loans. It's a $1 trillion problem that gets worse every day. For those with federal student loans, there is no quick or even medium term resolution. For the most part, federal loan debt balances can't be reduced in the overwhelming majority of circumstances.

The good news is that for private student loans, McCarthy Law can often negotiate with the lender for a huge reduction in the balance claimed due and can create an affordable 5-6 year payment plan to work people out of their private student loans for far less than owed. It's not the complete solution, but for the millions of families facing BOTH federal and private student loans, it's a great start.

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