For profit universities have been a target of state and federal investigations for years.  I have written about this topic since 2012.  It should be noted that not all for profit colleges are scams, but there are a large number of for profit colleges, sometimes referred to as “diploma mills” that at times offer credit for your “life experience” and lure students in with promises of a helpful degree, but the students end up with a worthless degree and an empty wallet.  Sometimes the names of these scamming colleges and universities are confusingly similar to legitimate colleges.  For instance, Columbia State University is a diploma mill while Columbia University is an eminent Ivy League school.

Recently the Department of Education rescinded changes made during the previous administration which made it more difficult for defrauded students to obtain debt relief for student loans.  According to the Department of Education approximately a billion dollars of student loan debt will be eligible for a relief program known as “borrower defense” which allows students who can prove they were substantially misled by their school to have their federal student loans forgiven.

TIP

If you are considering attending a for profit school, first check it out with the United States Department of Education’s website at www.ope.ed.gov/accreditation to make sure it is an accredited institution.
You also should investigate whether a local college, university or community college would be more cost effective for you.  For profit colleges and universities are often more expensive than these other alternatives without offering any distinct advantages.  Also, check out the graduation rates of any for profit college you are considering and finally, investigate the job prospects in your field of study.  Don’t just take the word of the college.

For more information about the “borrower defense” program, go to https://studentaid.gov/borrower-defense/?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

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