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It appears that the criminal enterprise that was Corinthian Colleges is finally being made to pay.
The Lovely Harvey got an email today about the discharge of her student loans due to the college's criminal malfeasance.
Discharge of loan. Removal of it from her credit report. Refund of any and all payments made.
Wowsers!
To be clear to the boomers who don't (won't?) understand; this is not related to the big student loan forgiveness that Biden was pushing. This is normal for when a college defrauds its students, the hold up was how damn BIG the department of education let the situation get and how much Corinthians tried to get away with.
It's taken almost two decades to get justice out of this.
Maybe it will make my car insurance go down with a better credit rating coming.
Not to be an editor but maybe, "To be clear to the boomers who don't (won't?) understand;" that might have been, "To be clear to the people who haven't heard of Corinthians College and this situation..."
ReplyDeleteI'm sure I'm not the only person who never heard of this problem - or it was so far from my life and situations that I didn't file it in memory. I would imagine that people of all ages can have that in common.
It's phrased the way it is because even AFTER explaining the entire situation they launch into lectures about how they did things you can no longer do that would have avoided this mess in the first place.
DeleteThings I knew already, but am painfully aware that the people who closed those doors were the self-same boomers who voted for the politicians who set it in stone before I got a chance to vote on it.
Elaborating: There's a group of boomers who think that ANY forgiveness or discharge of a student loan is a moral failing on the part of the borrower. Further all forgiveness and discharge are the result of liberal meddling to pander to voters.
DeleteI don't think that explaining the Corinthian Colleges malfeasance has even once got them to understand how many people took out loans thinking they'd get an education and a better job to find that they'd been told to borrow far more than they needed to. That alone wouldn't be too bad, but they got shut down by the department of ed for predatory lending practices that would have someone with a middle name of 'the' blanching at the callousness of it.
If you didn't already have a good job with your degree, good luck using a CCC degree after the department of ed kills your school! The assumption employers make is that schools are only shut down because they aren't teaching; the don't get that financial aid shenanigans are the reason most get nuked.
I'm glad to hear this. I do think that scam colleges (not just places like Corinthian, but the ones who offer "degrees" online that are useless in the job market, or degrees in uselessness, like Gender Studies) should be held liable for their students' problems with credit and job-hunting. Being scammed, even if you ARE naive and trusting, is NOT A CRIME!
ReplyDelete