Corinthian Colleges

FTC announces record $191M settlement against University of Phoenix

The University of Phoenix (UOP), one of the nation’s largest for-profit colleges will pay a record $191 million settlement to resolve charges stemming from a five-year investigation by the Federal Trade Commission (FTC). On December 10, Andrew Smith, Director of FTC’s Bureau of Consumer Protection noted it was the largest settlement the Commission has obtained in a case against a for-profit school.

Regulatory Rollback on Student Loans Takes Away Borrower Protections

Every Fourth of July celebrates this nation’s founding. But this year, only a few days before the annual freedom celebration, an ill-advised governmental action will financially doom rather than free millions of student loan borrowers – as of July 1. Moreover, this action arrives as the cost of higher education continues to soar and household incomes remain largely stagnant.

Trump Administration Forced to Forgive $150M in Student Loans

After a more than year-long delay, the U.S. Department of Education will cancel $150 million in debt owed by defrauded students, the agency announced Dec. 13. Under borrower protection regulation established under President Barack Obama in 2016, former students or parents of students who took loans for colleges that closed between Nov. 1, 2013, and Dec. 4, 2018 would receive debt forgiveness or receive reimbursement. The provision, known as the Automatic Closed School Discharge, was part of the Obama administration’s hemming in of for-profit colleges, such as ITT Tech and Corinthian Colleges. Almost half of the 15,000 persons eligible for