Defrauded students

[Dittohead not!]

U.S. not granting loan relief to defrauded students: inspector general

WASHINGTON (Reuters) - The U.S. Education Department under President Donald Trump and Secretary Betsy DeVos has stopped cancelling the student-loan debt of people defrauded by failed for-profit schools and those borrowers face mounting interest and other burdens, its inspector general said on Monday.

Trump University Suit Settlement approved by judge


I wonder if that 25 million was enough to pay off the debts of students defrauded by Trump University? If so, then suing the other fake universities could be a viable option.

 

[reinoe]

U.S. not granting loan relief to defrauded students: inspector general





Trump University Suit Settlement approved by judge


I wonder if that 25 million was enough to pay off the debts of students defrauded by Trump University? If so, then suing the other fake universities could be a viable option.

Good. You have to be especially short-sighted to not spot a for-profit university. Not all of them are bad but most of them are. I have no sympathy for those people.

 

[tres borrachos]

U.S. not granting loan relief to defrauded students: inspector general





Trump University Suit Settlement approved by judge


I wonder if that 25 million was enough to pay off the debts of students defrauded by Trump University? If so, then suing the other fake universities could be a viable option.

Trump University. Oh yes. One of the country's greatest frauds, pulled off by one of history's greatest fraudsters.

 

[Absentglare]

U.S. not granting loan relief to defrauded students: inspector general





Trump University Suit Settlement approved by judge


I wonder if that 25 million was enough to pay off the debts of students defrauded by Trump University? If so, then suing the other fake universities could be a viable option.

DeVos wants to feed our tax dollars into schools that teach how evolution and modern psychology were invented by satan to combat our religiosity.

But **** college kids saddled with debt from fraudulent universities: student beware, education is bad for you!

 

[ttwtt78640]

I am not sure that I understand this "issue" completely. I assume that in order to get a student loan that the school must be government approved. The lender is not certainly not aiding in fraud by simply supplying their financial assistance to a student attending an approved school. I can understand the ruling by a court that a fraudulent school be required to repay the lender (on behalf of a cheated student) but I cannot see simply forgiving the loan and thus making the lender eat the loss or have to sue the school.

 

[justabubba]

I am not sure that I understand this "issue" completely. I assume that in order to get a student loan that the school must be government approved. The lender is not certainly not aiding in fraud by simply supplying their financial assistance to a student attending an approved school. I can understand the ruling by a court that a fraudulent school be required to repay the lender (on behalf of a cheated student) but I cannot see simply forgiving the loan and thus making the lender eat the loss or have to sue the school.

[emphasis added by bubba]
agreed. where is the role and responsibility of the student to vet the school of choice?

 

[Dittohead not!]

I am not sure that I understand this "issue" completely. I assume that in order to get a student loan that the school must be government approved. The lender is not certainly not aiding in fraud by simply supplying their financial assistance to a student attending an approved school. I can understand the ruling by a court that a fraudulent school be required to repay the lender (on behalf of a cheated student) but I cannot see simply forgiving the loan and thus making the lender eat the loss or have to sue the school.

The lender isn't eating the loss. The government is eating the loss.

Come to think of it, suing the fraud or fining them is a better solution, if they're still around to pay.

 

[Dittohead not!]

[emphasis added by bubba]
agreed. where is the role and responsibility of the student to vet the school of choice?

Youth, lacking life experience, are easy to scam. The best option is to shut down the scammers and to warn people about them.

 

[apdst]

The lender isn't eating the loss. The government is eating the loss.

Come to think of it, suing the fraud or fining them is a better solution, if they're still around to pay.

In that case, this is a great decision by President Trump.

 

[ludin]

I am not sure that I understand this "issue" completely. I assume that in order to get a student loan that the school must be government approved. The lender is not certainly not aiding in fraud by simply supplying their financial assistance to a student attending an approved school. I can understand the ruling by a court that a fraudulent school be required to repay the lender (on behalf of a cheated student) but I cannot see simply forgiving the loan and thus making the lender eat the loss or have to sue the school.

The colleges shut down. This left thousands of student attending without credits or a diploma.
There are very few ways to cancel student loan debt. In fact there is almost no way to do it.

One of the ways is that is if your college shuts down for any reason and you did not receive a diploma that you
Could have your loans forgiven.

Several state AG's have successfully argued that they committed fraud in their job placement numbers.
I do believe that the school is no longer operating.

This would entitle them to loan forgiveness.

Their degrees cost 60-70k dollars.

 

[ttwtt78640]

The lender isn't eating the loss. The government is eating the loss.

Come to think of it, suing the fraud or fining them is a better solution, if they're still around to pay.

The government (which is simply every taxpayer) should not eat the loss. If the government (meaning some of its employees) that accredited a crappy school is the second most responsible party (the crappy school is primarily responsible) but I assume simply don't much care what gets put on the taxpayer's tab so long as they remain employed continuing to do a crappy job at accrediting schools.

 

[ttwtt78640]

The colleges shut down. This left thousands of student attending without credits or a diploma.
There are very few ways to cancel student loan debt. In fact there is almost no way to do it.

One of the ways is that is if your college shuts down for any reason and you did not receive a diploma that you
Could have your loans forgiven.

Several state AG's have successfully argued that they committed fraud in their job placement numbers.
I do believe that the school is no longer operating.

This would entitle them to loan forgiveness.

Their degrees cost 60-70k dollars.

Why should that cost be born by every taxpayer? Folks get taken by all sorts of businesses but that is no reason that the general public should be held accountable.

 

[Critter7r]

Why can't the credits accumulated at these accredited schools be applied toward a degree at some other accredited school?

And ****ing LOLOLOLOL at the department processing 3 of 25,000 claims since January 20th.

 

[dorsai]

I would agree that if the school was fraudulent, sue the school. But if the loan itself is not fraudulent, there is no reason to forgive the debt. The borrower is still on the hook to pay and if they can get money out of the school to reimburse them, good for them. The loan itself should not be forgiven at taxpayer expense.

I don't see the government moving to have auto loans forgiven due to auto makers misrepresenting safety tests, CAFE measurements, or performance results. You don't even hear of this in the case of recalls that result in loss of life. This is no different.

If you borrow money you are agreeing to pay it back. If you offer something fraudulently, you can be subject to "action" (criminal or civil). In this case, both principles can applied.

Profit from success. Learn from failure. This is a learning experience. Yes, it is an expensive lesson but a learning experience nonetheless...

 

[reinoe]

Youth, lacking life experience, are easy to scam. The best option is to shut down the scammers and to warn people about them.

For profit universities target working adults who are too stupid and lazy to attend a legitimate college. They went with for-profit schools that gave promises that were too good to be true. Nevermind the fact that only an idiot would pay $700 per credit to a place like Devry or ITT TECH.

These were full grown adults, not youths. They houltake personal responsibility for their poor life choices and this is a great response from Devos.

 

[reinoe]

Why can't the credits accumulated at these accredited schools be applied toward a degree at some other accredited school?

And ****ing LOLOLOLOL at the department processing 3 of 25,000 claims since January 20th.

Many for-profit schools are not accredited except by Accreditation mills with no credibility. Regional accreditation is where almost all public and private schools get their accreditation and the rules and requirements are stringent. A for-profit school could never meet these stringent requirements.

 

[ludin]

Why should that cost be born by every taxpayer? Folks get taken by all sorts of businesses but that is no reason that the general public should be held accountable.

OBbama took over the student loans remember.
The loans for school came directly from the government.

 

[ludin]

Why can't the credits accumulated at these accredited schools be applied toward a degree at some other accredited school?

And ****ing LOLOLOLOL at the department processing 3 of 25,000 claims since January 20th.

Things get dicey on some of these credits depending on the accreditation.

most of their credits should transfer.

 

[ttwtt78640]

OBbama took over the student loans remember.
The loans for school came directly from the government.

Yep, and went directly to folks that agreed to pay them back with interest. You simply wish to convert them to gifts.

 

[ludin]

Yep, and went directly to folks that agreed to pay them back with interest. You simply wish to convert them to gifts.

It isn't me it is the rules of the DOE.

https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/closed-school

Your school closes while you're enrolled, and you do not complete your program because of the closure. If you were on an approved leave of absence, you are considered to have been enrolled at the school.
Your school closes within 120 days after you withdraw.

 

[Cephus]

OBbama took over the student loans remember.
The loans for school came directly from the government.

Which is paid for by the taxpayer. Anyone who is so dumb as to go to one of these for-profit scam schools deserves what they get and the taxpayer shouldn't be on the hook for their stupidity.

 

[ludin]

Which is paid for by the taxpayer. Anyone who is so dumb as to go to one of these for-profit scam schools deserves what they get and the taxpayer shouldn't be on the hook for their stupidity.

So people deserved to be scammed out of tens of thousands of dollars since when?

There was an agreement and a contract one upheld their end of the contract the other did not.
again this is the rules of the DOE. they are allowed to have their loans discharged.

 

[Cephus]

So people deserved to be scammed out of tens of thousands of dollars since when?

There was an agreement and a contract one upheld their end of the contract the other did not.
again this is the rules of the DOE. they are allowed to have their loans discharged.

No, people need to be intelligent and make rational, well-educated decisions. I'm sure nowhere in the paperwork that people signed for their student loans does it contain the phrase "unless something goes wrong and I don't want to pay it back". They, as legal adults, made a legally binding agreement, period. If the government wants to go after these schools, fine. But there isn't a back door out of repaying legal loans so far as I know. Don't like the consequences of your decisions? Don't put your name on the dotted line.

 

[Dittohead not!]

The government (which is simply every taxpayer) should not eat the loss. If the government (meaning some of its employees) that accredited a crappy school is the second most responsible party (the crappy school is primarily responsible) but I assume simply don't much care what gets put on the taxpayer's tab so long as they remain employed continuing to do a crappy job at accrediting schools.

Aren't most schools accredited by the states they're in?

 

[Dittohead not!]

For profit universities target working adults who are too stupid and lazy to attend a legitimate college. They went with for-profit schools that gave promises that were too good to be true. Nevermind the fact that only an idiot would pay $700 per credit to a place like Devry or ITT TECH.

These were full grown adults, not youths. They houltake personal responsibility for their poor life choices and this is a great response from Devos.

One would think they would know better. Still, the scammers need to be shut down.