Education Secretary Betsy DeVos systematically blocked debt relief for over 200,000 students defrauded by for-profit colleges, overruling internal Education Department career staff who had recommended full loan forgiveness. Internal memos from the department’s Borrower Defense Unit dated …
Betsy DeVosU.S. Department of EducationCorinthian CollegesITT Technical Instituteregulatory-capturepredatory-lendingeducationstudent-debtconsumer-protection+1 more
Corinthian Colleges, one of the nation’s largest for-profit college chains with over 100 campuses, filed for bankruptcy after federal and state regulators exposed systematic fraud against students. The company aggressively recruited low-income students with false promises of high job placement …
Corinthian CollegesU.S. Department of EducationConsumer Financial Protection Bureau (CFPB)Association of Private Sector Colleges and Universities (APSCU)predatory-lendingeducationstudent-debtcorporate-fraudregulatory-capture+1 more
Corinthian Colleges Inc., one of the largest for-profit college chains in the United States operating Everest College, Heald College, and WyoTech brands, announced on April 26, 2015, that it would immediately cease operations at all remaining campuses, abruptly closing 28 ground locations and …
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The U.S. Department of Education imposed a 21-day hold on all federal aid flowing to Corinthian Colleges on June 12, 2014, after the for-profit chain—operating as Everest College, WyoTech, and Heald College—refused to provide documentation substantiating falsified job placement rates. The action …
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On July 30, 2012, the Senate Health, Education, Labor, and Pensions (HELP) Committee released the Harkin Report, a devastating two-year investigation documenting systematic fraud, abuse, and taxpayer exploitation in the for-profit college industry. The 2,000-page report, based on subpoenaed …
Senator Tom HarkinSenate HELP CommitteeUniversity of PhoenixCorinthian CollegesITT Tech+3 moreeducationfor-profit-collegesfraudstudent-debtregulatory-failure+1 more
Between 2005 and 2024, the United States operated a two-tiered bankruptcy system that weaponized debt against students and working Americans while preserving bankruptcy as a strategic wealth-preservation tool for corporations and the wealthy—a defining example of 21st century American kleptocracy. …
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