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Are the schools no longer scams? All this does is help the schools, if new students think they might not actually have to pay that debt at the end.
by thatguy0900 5y ago
Are the schools no longer scams? All this does is help the schools, if new students think they might not actually have to pay that debt at the end.
- oh_sigh 5y agoDo you think the schools aren't punished for being scams, and they're just free to keep scamming students? And debt relief helps the debtor, not the original receiver of the funds. Example: https://en.wikipedia.org/wiki/ITT_Technical_Institute#Legal_issues https://en.wikipedia.org/wiki/ITT_Technical_Institute#Legal_... > On August 25, 2016, the U.S. Department of Education banned ITT Tech from enrolling students who receive federal aid. The Department also doubled the surety funds that ITT Tech was required to have, and to produce those funds within 30 days. Stock markets reacted with a punishing 35% drop, which triggered a halt in trading, raising concerns about whether ITT Educational would be able to survive this latest decision.[73] On September 6, 2016, ITT Tech ceased operations and closed all of its locations, issuing a statement that attributed the closing to the Department of Education's actions.[28]
- bombcar 5y agoThe mistake ITT Tech did was being "for profit" - run it as a non-profit and be satisfied with enriching the management, and sail on.
- oh_sigh 5y agoNo, not really. The wikipedia page I linked lays out all of the illegal things they did, which are still illegal for non-profit institutions.