US: For-Profit College Accused Of Luring Students Into Predatory Loans

#1

Quote:
"
The federal consumer protection agency filed suit on Wednesday against ITT Educational Services, accusing the major for-profit college corporation of forcing students into high-interest, private loans expected to leave a majority of borrowers in default.

The case marks the first time the Consumer Financial Protection Bureau has taken action against the for-profit college industry, which is facing heightened scrutiny for its marketing practices and student debt burdens from more than a dozen attorneys general and the U.S. Department of Education."

http://www.huffingtonpost.com/2014/02/26/consumer-financial-protection-bureau-for-profit-college_n_4861022.html

#2

I’m not surprised at all. I’m sure we will see more for-profit schools getting closely monitored. I did some reading up on how they operate and they are all guilty of some shady practices. Its in their benefit to be. Which is unfortunate.