"The Education Department continues to vet thousands of requests from Corinthian students for relief from their federal loans. So far, it has erased the debt for more than 8,800 former Corinthian students, totaling more than $132 million. But that's only a small fraction of the estimated $3.6 billion in federal loans given to Corinthian students."........................................http://www.cbsnews.com/news/new-rule-would-help-students-hit-by-for-profit-college-fraud/
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I bet you didn't know that CCi used federal grant money in the form of OTJ (on the job training) to pay for "training" those who were hired by CCi. They got a few grand for each of us hired that way and when we go to CareerSource to get unemployment and get some federal re-training monies, it pops up as we already used it. Hopefully you have a smart CareerSource person who knows about that sham and gets you a waiver so you can still get the $7000 in re-training monies.
Changing Everest and WyoTech to non-profit is exactly how Zenith/ECMC skirts the rules and regulations of for-profits. Remember that this whole Zenith Education Group was a fabrication between the federal government and ECMC to save the DOE. ECMC is not losing money on Zenith because of the deal worked out between the two for the DOE to subsidize any losses that Zenith occurs in closing any of the campuses within the first two years of ownership.
True, zenith has changed to non profit status. However, they have changed nothing else. They have the same predatory recruiting. People of low income, low education, who can qualify for financial aid. They have implemented an entrance exam that looks good on paper but is otherwise meaningless. Whether a prospective ( and uninformed) student passes or fails doesn't matter, as long as they qualify for financial aid. Hence, the reason they go through financial aid before taking the test. If a student does make it through the program up to externship, they are usually placed in a position with a company that never has them do what is required to pass the class. They end up doing menial tasks as a day laborer because it is free labor for that company. The student gets a passing grade, does not have the skills to work in that field, and that's when it falls apart. What other demographic would still even consider attending these diploma mills. It only takes a few minutes of research to see the truth. Instead of taking those few minutes to research, these poor people end up getting a sub par education at a super premium price, a worthless certificate, credits that will never transfer anywhere, and maybe get a job that pays $9 - $12 dollars an hour. They end up having student loans around $22000.00 for an education that would have cost at worst $7000.00 at the local community college, with credits that would transfer.
I guarantee this flew over the head of 90% of you all.
I call BS on this article, nothing concrete. People stop feeding into the What if's and focus more on the what is.
The new rule is: Give more tax payer money to the dead beats who want everything for free. Obama is more concerned with closing schools and taking away guns than he is with stopping Islamic Terrorism.
@HT8h5Uj-1pxd, the rule should be published by November. Here's the DoED press release.......
http://www.ed.gov/news/press-releases/education-department-proposes-new-regulations-protect-students-and-taxpayers-predatory-institutions
What exactly is this new rule Camden Kid, as that was not specifically posted.
CBS is a Liberal government lackey just like Katie Couric. I'm sure all of their reporting is unbiased.
So what? This is the Zenith layoff board, not Corinthian Colleges. You keep coming on here and posting stuff about "For-Profit" schools. Zenith is NON-PROFIT and not part of the loan relieve crap. Any past Corinthian Colleges students that resigned under Zenith Education Group and agreed to continue their education with Zenith are not getting their loans forgiven so go away!