> The sanctions for BloomTech appear to be quite severe. It can no longer collect any income share loan payments from grads that didn't get a job in the past ye

> The sanctions for BloomTech appear to be quite severe. It can no longer collect any income share loan payments from grads that didn't get a job in the past year, and has to cancel the multi-thousand dollar finance charge for students who graduated more than 18 months ago and don't work a job making more than $70k a year. Plus, current students must be allowed to drop their loans and withdraw, or be able to continue attending but with a third-party loan. > As an added bonus, BloomTech and Allred personally have to pay into the CFPB's victims' relief fund, with the company getting fined $64k and the CEO $100k. Plus, Allred is prohibited from student lending for a decade.