Among those who have had to wait too long for debt relief are more than 200,000 students who say they were tricked into taking valueless courses at for-profit college chains such as the now-defunct ITT Technical Institute and Corinthian Colleges. DeVos’ own staff found that those schools defrauded students by making misleading assurances about the jobs that students would find after training and about the money they would earn.
Low-income borrowers graduate with more debt and greater risk of default. 21% of #PellGrant recipients, most with incomes under $40k, default within 12 years. At #4profit colleges, the default rate jumps to 52% #DefendStudents #StopTheDebtTrap @EdDebtJustice @TICAS #JustEconomy
Of the 44 million student loan borrowers, nearly 1 in 5 is currently in default on one or more federal student loans. #FairDebt #DefendStudents #ProtectBorrowers #JustEconomy @RealBankReform @NCLC4consumers https://www.nclc.org/images/pdf/student_loans/report-inequitable-judgments-april2019.pdf