Articles tagged with: for-profit colleges
Americans for Financial Reform applauds the Department of Education’s final decision to de-recognize a major accreditor of for-profit colleges, the Accrediting Council for Independent Colleges and Schools (ACICS). The Department’s decision to no longer recognize ACICS is an important step toward ensuring that students and taxpayers do not bear the burden of illegal and fraudulent acts by for-profit colleges.
Americans for Financial Reform welcomes the news that the Department of Education has taken steps to protect both students and taxpayers by cutting off federal student loan money to Globe University and the Minnesota School …
Americans for Financial Reform (AFR) is dismayed to learn that the Department of Education is still actively collecting on nearly 80,000 former Corinthian students. These actions run counter to the requests of AFR and a …
AFR calls on the Department of Education to inform all enrolled students and those who have recently withdrawn of their right to cancellation of their federal student loans, to vigorously investigate the past misconduct of ITT, and to release any findings publicly.
Over 10,000 members of Americans for Financial Reform signed a petition calling on the Department to provide full loan relief to defrauded students, provide automatic loan cancellation when there is sufficient evidence of a school’s wrongdoing, not impose time limits on relief for defrauded borrowers, and close gaping loopholes allowing unscrupulous schools to prevent injured students from having their day in court.
AFR’s Alexis Goldstein gave opening remarks at the launch of the AFT Report “Regulating Too-Big-to-Fail Education.” In her remarks, Goldstein outlined the parallels between the for-profit college crisis and the subprime mortgage crisis.
“We join with the advocates, lawmakers, and law enforcement officials who have all called on the Department use its legal authority to discharge debts of students covered by the Department’s enforcement actions without further delay and without requiring each borrower to make an individual application.”
“We are deeply concerned by the slow pace and small number of discharges that have been processed and that many of the Department’s proposals in the current negotiated rulemaking process move in the wrong direction, reducing eligibility for relief, pitting students against schools, and creating unnecessary burdens on students and the Department.”