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.
” 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