University of Phoenix Closure

University of Phoenix Recruited Using High Pressure Sale

Why is the University of Phoenix being sold?

The University of Phoenix sale is yet another dim sign for for-profit colleges accused of valuing money over students. But for-profit education problems point to deeper challenges in higher education.

The University of Phoenix has an Open Admission policy which means that the school is accessible to anyone with a high school diploma or GED. In 2010 the university began an orientation program designed to lower dropout and default rates. Students must successfully complete a three-week orientation workshop in order to be eligible to start their first credit/cost bearing course.

Prior to 2010, Phoenix recruited students using high-pressure sales tactics, including making claims that classes were filling fast, by admissions counselors who are paid, in part, based on their success in recruiting students. Since 2010, changes were implemented to the way the university recruits students. 

UOP-Selling School

Since the schools weren’t lending money themselves, they didn’t have to worry about whether it would be paid back. So they had every incentive to encourage students to take out as much financial aid as possible, often by giving them a distorted picture of what they could expect in the future.” 

Under President Obama, the federal government has been trying to crack down on the way the University of Phoenix and other for-profit schools recruits students. 

Thankfully, the federal government has been stepping up its efforts to crack down on these gluttonous for-profit colleges, responsible for so much unnecessary debt suffered by their victims. Unfortunately, students aren’t likely to see relief directly from this lawsuit for some time to come. Fortunately  however, there is something former students can do in the meantime. The FTC estimates that some 60,000 to 70,000 former students may be eligible to have their loans forgiven through new federal student loan forgiveness programs put into place by the Obama administration. This is great news for former University of Phoenix students, as these kind of lawsuits can take several years to complete and see monetary compensation come into fruition. Students who believe they’ve been victimized by University of Phoenix deceptive marketing practices can call (844)766-5462  to see if they qualify to have their loans forgiven.This will not affect any monetary gain that may result from this lawsuit. Former borrowers owe it to themselves to cut these for-profit colleges off at the legs and stop paying absorbent student loan payments.

To See If You Qualify Fill Out The Form Below
Or Call 1(844)766-5462 

Regency Beauty Institute

Regency Beauty Institute Closure

This week, the cosmetology school shut down all 79 of its locations nationwide, including one in Austin. Some students say they got little notice and the news came as a surprise to staff as well.

“The students and the teachers, we’re a family and to know that we’re not going to see each other anymore, that we’re scattering throughout Austin trying to find where to go, I’m sad on that part,” said Nature Nunez, another former student. The Texas Department of Licensing and Regulation is currently working with students to place them in other schools. On Friday night, the TDLR website listed six schools in Austin that would take displaced students.

“How did this happen? In short, the organization does not have the cash to continue to run the business,” Regency Beauty Institute posted to its website. “There are multiple intertwined reasons: Declining numbers of cosmetology students nationwide, a negative characterization of for-profit education by regulators and politicians that continues to worsen and, in light of these factors, an inability to obtain continued financing.”

Regency Beauty Institute was differing missions to fall under various accrediting agencies and departmental oversight. Regency was accredited through the National Accrediting Commission of Career Arts & Sciences. That organization requires a school to give 30-days notice to the commission for a planned closure. However, in the event of an unplanned closure, a school is required to supply notice and further plans after the shutdown.

“Although NACCAS has been in communication with Regency, and the U.S. Department of Education, in recent months concerning Regency’s financial status, at no time did Regency ever indicate that it was considering an imminent closure of its schools,”

This is a trend seen repeated in the for-profit college industry, such as in the downfall of Corinthian Colleges last year. One of Corinthians chains, Heald College, had been discovered to actually paying employers to hire some of its graduates temporarily to inflate their job placement figures, only to have the employer fire the graduate after a day or two. Another big For Profit School that closed it doors with only a email sent to the students and staff the day prior was ITT Technical Institute we see this happen more and more as the For Profit School Industry takes a turn for the worst.

Possibly Eligible for Loan Forgiveness or In School Closure

Regency Beauty Institute Closure

What to do next if you Regency Beauty Institute

Thankfully, the federal government has been stepping up its efforts to crack down on these gluttonous for-profit colleges, responsible for so much unnecessary debt suffered by their victims. Unfortunately, students aren’t likely to see relief directly from this lawsuit for some time to come. Fortunately  however, there is something former students can do in the meantime. The FTC estimates that some 60,000 to 70,000 former students may be eligible to have their loans forgiven through new federal student loan forgiveness programs put into place by the Obama administration. This is great news for former Regency Beauty Institute students, as these kind of lawsuits can take several years to complete and see monetary compensation come into fruition. Students who believe they’ve been victimized by Regency Beauty Institute deceptive marketing practices can call (844)766-5462  to see if they qualify to have their loans forgiven.This will not affect any monetary gain that may result from this lawsuit. Former borrowers owe it to themselves to cut these for-profit colleges off at the legs and stop paying absorbent student loan payments.

To See If You Qualify Fill Out The Form Below
Or Call 1(844)766-5462

ITT Technical Institute School Closure

ITT Technical Institute Closure

The Obama administration took steps that effectively forced the closure of one of the nation’s largest for-profit college chains, banning ITT Technical Institute from enrolling new students. ITT, which has about 43,000 students nationwide, faced accusations from its accreditor of chronic mismanagement of its finances and using questionable recruiting tactics. Due to recent updates with student loan forgiveness programs, students of ITT Tech now qualify for loan forgiveness. There are varying circumstances around the loan forgiveness, but if you are a victim to this predatory for-profit schools we highly advise you call us too see how we can help. To see if you qualify, and learn what steps to take next Give us a call at (844)766-5462

The Department of Education recently sent a message announcements page to help these students stay updated as the situation develops. Other helpful information, including answers to common questions about student loans, are also available through Forgiveness DocuPrep, which offers a host of clear and impartial answers to hundreds of financial questions.

ITT’s fate may be sealed, but its students’ futures are far less certain. The vast majority of for-profit students take on large sums of student debt to fund their tuition. Roughly 35,000 of ITT’s 45,000 students will be eligible for some form of student debt relief, according to the U.S. Department of Education (ED). If each and every student were to file for discharge, the ED could be on the hook for as much as $500 million, ED Under Secretary Ted Mitchell said on a call with reporters Tuesday. And most of that burden would fall on taxpayer’s shoulders. The ED only required ITT Tech to set aside $123.65 million to cover loan restitution.

What to do next? If you attended ITT Technical Institute

There are certain criteria that make you eligible for a closed school loan discharge, and there are certain steps you need to take to apply for a student loan discharge.

To See If You Qualify Fill Out The Form Below
Or Call 1(844)766-5462 

Student Bill of Rights

What is The Student Aid Bill of Rights and How it Affects You

Overview: Barack Obama has suggested a New Student and Borrower Bill of Rights, and he’s outlining some new actions that direct the Federal Government to make paying for higher education an simpler and more honest experience for an incredible number of Americans.

obama student loan forgiveness program

The single-most significant investment everyone can make with their future will be to pursue higher education. But the one point I frequently discover from families is that they are concerned about the price.

Way too many students are graduating from college feeling burdened by their student loan debt. The Obama Administration has, and will keep on, making school less expensive through improved Pell Grants and education tax breaks, while enhancing transparency to ensure that students and families possess the information they need should they choose the College path. Nowadays, we’re building on the Government’s Success helping students handle their debt and remain on a path to repay their loans.

Barack Obamas Administration in the U.S. Department of Education has been working with federal partners to make certain that student loan borrowers have easy and accessible information about how to prevent – or get away from – delinquency and default. And they have been doing more to enhance student loan servicing and shield borrowers in order for them to receive the protection and respect they deserve, regardless of the kind of loan they will have or have currently.

But throughout the Government, they want to do more.

That is why now, President Obama has suggested a Fresh New Student Aid Bill of Rights that outlines a number of new rules that direct the Department of Education, Department of Treasury, Office of Management and Budget,Office of Science and Technology Policy and Domestic Policy Council, working with the Consumer Financial Protection Bureau and the Social Security Administration,to make paying for higher education an easier and fairer experience for millions of Americans.

Barack Obama with the proposed Student Aid Bill of Rights sets to help take action on the nations student debt issue, and supply borrowers with more rights and protections.  With the present average of a borrowers student loan debt at $28,400, along with the average default percentage at almost 14%, its neither a shock or secret that the nation is facing quite a big crisis . President Obama has been the champion of student loans, currently having developed the Pay-As-You-Earn Payment Plan, along with creating modifications  to the present forgiveness plans that has many folks calling it the Obama Student Loan Forgiveness plan.

Student Bill of Rights
I. Have access to high quality, cost-effective higher education

Higher education continues to be among the top investments one can make within their future, so the importance of a college education has never been more important. In January 2015 President Obama suggested a daring strategy of making community-college entirely free for students. This strategy might possibly help 9 million individuals, and make the very first two years of college free to students who start their degree at a community college

College Rating System:

The Department of Education can be now focus on creating a rating system for colleges which is likely to be finished by the beginning of the 2015-2016 school-year. This system will supply a measurement that will be simple for one to compare colleges with genuine data according to historical performances of each and every university.

Information Used to Rate Colleges:

Typical net cost of attendance – The average price someone will spend to go to the school
Graduation Rates – The average amount of students who attend and graduate from the college
Transfer Rates – Measuring students who move in, and who are not happy and transfer out of the college
Employment Rates – Measuring the success of the students in their field of studies post-graduation
Loan Performance – How well are the students able to repay their loans after receiving their degree.

II. Be Able to easily locate the assets they need to pay for college

Using the price of tuition on the rise and higher education continuing to be among the most effective investments you can make in their own future, the President realizes the need for people to get access to government funds to help pay for college. Barack Obama has helped make aid better to get by raising the maximum Pell Grant by $1,000 in addition to changing the American Opportunity Tax-Credit to to have the ability to to claim up to $10,000 as a tax-deductible over four years of college.

Simplification of the FAFSA

Further, the Department of Education has simplified the Free Application for Federal Student Aid(FAFSA) program. The typical time it takes somebody to now finish this application is 20 minutes, decreased from the initial length of over an hr. The Department of Education has streamlined a part of the application to internally hyperlink to the Inner Revenue Database (IRS). This permits the Department of Education to see financial statements straight through the Internal Revenue Service, as an alternative of letting the borrower finish that part of the form. The President has additionally required to remove more questions from the application to ensure it is actually simpler, and also to set less constraints on applying.

Tax-Debt Elimination For Forgiven Student Loans

Underneath the American Opportunity Tax-Credit, Barack Obama has additionally suggested removing any tax-debt on student loans forgiven under the income driven payment plans. This could range from the Income-Based, Income-Contingent, and Pay-As-You-Earn payment plans. Presently, any loan-forgiveness may possibly have the borrow getting a 1099 c for the amount forgiven which will have to be claimed on tax returns. If the proposal of eliminating this tax liability goes through, many borrowers would see light at the end of the tunnel with their student loans.

FederalStudentLoans

III. Be in a position to select a reasonable repayment plan for student loans

Since currently 14% of all student loans have been in default status, the President has focused on supplying borrowers with affordable repayment strategies for their student loans. In Dec 2012 the Pay-As-You-Earn repayment plan was passed into legislation. This repayment plan enables borrowers to make affordable monthly payments on their student loans in a maximum of 10% of their discretionary income. This means that new borrowers may also have affordable repayments for their student loans, with repayments starting as low as $0.00 per month with loan forgiveness after twenty years.

Using the income driven plans, there’s hardly ever a reason for a borrow to be default on their loans whenever they’re adequately educated about their repayment options. Unfortunately, several of the lenders aren’t doing a good job of informing their borrowers, and frequently  the consumer falls into default after seeking aid and calling their lender. This leads into the next student aid bill of rights point.

To See If You Qualify Fill Out The Form Below
Or Call 1(844)766-5462

IV Obtain quality customer service, trusted information, and honest treatment when repaying loans.

As we’ve previously noted, the Department of Education has uncovered problems at Sallie Mae, the biggest student loan lender in the Nation. Problems for example: mistake of income-based repayments, charging illegal rates of interest on student loans to military people, and unlawful late fees being charged to borrowers. The Department of Education has attempted to incentivize servicers to discover other means to best assist their borrowers. Lenders at the moment are compensated better depending on the help being provided to borrowers on repayment of the loans along with quality of the customer support. The Department of Education will further make sure all debt collections practices are honest, transparent, and the fees billed for collecting the debt are reasonable.

Educating Borrowers via Social Outreach

The Department of Education has additionally produced a social networking effort attempting to to focus on student loan borrowers to simply help educate them about the options available. Approximately 3.5 million borrowers were called from Nov 2013 to Dec 2013. The campaign was focused most on loan repayment options, common mistakes, and general student loan advice.

Student Loan Counseling Tool

The Department of Education developed the Student Loan Counseling Tool in the year 2012 to help prepare borrowers that have really not yet received loans, and people with existing loans. This significantly help those in high school who don’t have any understanding of how loans work, along with the gravity of the situation when borrowing thousands of dollars to continue a degree. The tool also provides financial planning suggestions, and has an approximation amount of what their debt will likely be after college.

Centralized Student Loan Complaint System

The Secretary of Education will make an website that may offer borrowers a simple and centralized place to document complaints about federal student loan lenders. The customer would have the capacity to monitor the complaint and see what type of resolution would be provided to the individual complaint. The DoE would also have the ability to make use of most of the information gathered to assess the efficiency of the servicers. The complaint system would be used for complaints against lenders, servicers, colleges, and collections agencies.

Do you believe these new planned ideas will assist the student loan situation in our nation? Leave a comment and let us know your thoughts!

ObamaStudentLoanForgivenessUpdate

What Exactly is The Obama Student Loan Forgiveness Program?

President Obama recently launched a brand new student loan forgiveness program, that provides substantial advantages to people that have taken out federal student loans. Even Parent Plus Loans would Qualify for this Program.

Included in these are:

  • Entire forgiveness of  remaining federal student loan debt after borrowers have made 240 monthly ontime payments
  • ReLaunch of the Pay-As-You-Earn Student Loan Repayment Plan
  • Upgrades to the Public-Service Loan-Forgiveness Program (remaining balance of the loan forgiven after 120 monthly on time payments)

The President’s student-loan reforms are discussed here at length, our website will  be updated whenever more information is released. Make sure to check back for more info, proposals, and implemented adjustments pertaining to the Obama Student Loan Forgiveness Program.

$3.6 Billion in Forgiveness for Corinthian Colleges Students

College Students connected to Corinthian Colleges very recently were sent a bit of really significant news. On June 8th, 2015, The Department of Education declared that they’re going to be providing student-loan forgiveness for approximately $3.6 billion dollars for student education loans given out to those attending any campuses correlated with The Corinthian Schools.

The Infamous Corinthian 15 debt hit struck deep amidst law-makers in D.C., leading many to feel that political leaders and banks are starting to grow worried of the possibility for the student-loan debt strike gaining attention with the general public.

For those people who are new to Corinthian, here’s a little history relating to this system of for profit colleges. They contain a big string of for profit schools, each of whom market widely on daytime TV and therefore are infamous for over-charging their students and bolstering expectations. Several of the Corinthian schools that you might have heard about include Everest, Heald, and WyoTech Colleges.

The general public has become more and more jaded regarding the high expense of schooling generally, but Corinthian students have obtained a really awful hit, and individuals are angry over the deception. The Corinthian Company fell beneath the weight of federal investigations reacting to the uncontrolled deception claims, also this method presented a significant danger to the raising student-loan debt bubble.

obama student loan forgiveness program

Sweet Justice has, luckily, been offered. Barack Obama’s administration is now guaranteeing important forgiveness benefits to get a select amount of students that were tricked by Corinthian. Sadly, the drawback to this otherwise amazing advance is the forgiveness provide is restricted to individuals who went to a Corinthian Campus college on or following June 20th, 2014.

Despite these restrictions set in place, this continues to be a huge progress. The forgiveness offer establishes an excellent precedent for the result to high student-loan debt, and reveals the President has a big issue with The American youth struggling underneath the weight of student loan debt.

Barack Obama’s Student Aid “Bill of Rights”
It is going to make several students happy to hear that on March 10th, 2015, Barack Obama declared a brand-new Bill that The Government is calling The “Student Aid Bill of Rights.”

This Bill of Rights presents some developments to the plan of regulating federal student loan debt and guarantees to undertake three quite important problems.

FederalStudentLoans

The Bill of Rights will do the following:

  • Produce a complaint system that borrowers may utilize to record complaints about student loan companies, debt-collectors and Department of Education Employees
  • Make it simpler for borrowers to repay their federal student loans by changing to the present Obama Student Loan Forgiveness Program
  • Start a brand new federal task-force dedicated to studying the issues associated with student-loan debt, and devoted to obtaining new options via suggested legal and regulatory changes
  • The main portion of the “Bill of Rights” is the fact that it’ll most likely will be open to everyone else by as early as December 2015.
  • President Obama is dedicated to opening a Nationwide Pay-As-You-Earn Payment Strategy by Mid December 2015.

President Obama is sadly not in charge of everything. It is up to the Department of Education to truly change that plan into a reality.  So continue to check with us for the most up to date information.

 

To See If You Qualify Fill Out The Form Below
Or Call 1(844)766-5462

UPDATE: More amazing information was launched!

CROMNIBUS’s Effect on Barack Obama’s Student Loan Forgiveness Program: As of Feb 2016, the dust has had time to decide on the approval of the “CROMNIBUS” proposition. For those who are unaware, this describes the acceptance of Barack Obama’s 2016 Government Budget. Well, by today it is become fairly obvious that the only real adjustments being contemplated for the President Obama Student Loan Forgiveness Program are favorable types which will influence the American people in a lot of ways.

Many of these modifications are the debut of two new programs: the Revised Pay-As-You-Earn Student Loan Repayment Plan, as well as add ons to the Public-Service Loan Forgiveness Program.

Perhaps you’re thinking that this can be simply politics as usual. Which is Possible But It is tough to tell at this time, but for the present time, it appears that this student loan forgiveness program and all its several benefits look safe. In reality, this plan can will easily save individuals millions of dollars on their federal student loans.

1893612-0-devry-university-law

DeVry University Sued for Misleading Students

Federal authorities announced Wednesday a lawsuit against for-profit giant DeVry University for its deceptive television and internet advertisements, which it says made false statements regarding the employment success rates and earnings of its graduates.

The FTC, just one of a few federal agencies investigating the for-profit education company, claiming that DeVry’s advertising claimed 90% of its graduates found jobs in their field of study within six months of graduating DeVry. In one example, it is alleged the school of including business-administration graduates who ended up with retail jobs like car sales or waitressing as having found work in their field. In another example, DeVry counted one of its graduates that found work as a rural mail carrier as finding a job in ‘technical management,’ the industry which the student had studied for at DeVry University. The lawsuit alleges that DeVry does not have evidence to back up their 90% job placement claim that they repeatedly used in their advertising. Another unsubstantiated claim made in certain DeVry University advertisements falsely indicated that its graduates enjoyed, on average, 15 percent higher incomes one year after graduating than graduates at other institutions.

DeVry University in Miramar Florida

DeVry University in Miramar Florida

This is a trend seen repeated in the for-profit college industry, such as in the downfall of Corinthian Colleges last year. One of Corinthians chains, Heald College, had been discovered to actually paying employers to hire some of its graduates temporarily to inflate their job placement figures, only to have the employer fire the graduate after a day or two. Maybe DeVry didn’t take it that far, but it still stands that this school, like many other for-profits, will tell prospective anything to get them to enroll, with the ultimate goal of receiving the federal student aid money that accounts for so much of their profit.

What to do next if you attended DeVry University

Thankfully, the federal government has been stepping up its efforts to crack down on these gluttonous for-profit colleges, responsible for so much unnecessary debt suffered by their victims. Unfortunately, students aren’t likely to see relief directly from this lawsuit for some time to come. Fortunately  however, there is something former students can do in the meantime. The FTC estimates that some 60,000 to 70,000 former students may be eligible to have their loans forgiven through new federal student loan forgiveness programs put into place by the Obama administration. This is great news for former DeVry University students, as these kind of lawsuits can take several years to complete and see monetary compensation come into fruition. Students who believe they’ve been victimized by DeVry’s deceptive marketing practices can call (844)766-5462  to see if they qualify to have their loans forgiven. This will not affect any monetary gain that may result from this lawsuit. Former borrowers owe it to themselves to cut these for-profit colleges off at the legs and stop paying absorbent student loan payments.