Trump Admin Won’t Forgive All Debt For Students Defrauded By For-Profit Schools


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57 Comments

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winstonjpenobscot · October 30, 2017 at 1:43 am

Like, for example, **TRUMP UNIVERSITY**

AmokOfProgress · October 30, 2017 at 1:43 am

Not shocked, considering [Trump University defrauded some of those students and he’s settled $25M already](https://www.washingtonpost.com/politics/source-trump-nearing-settlement-in-trump-university-fraud-cases/2016/11/18/8dc047c0-ada0-11e6-a31b-4b6397e625d0_story.html?utm_term=.4ddcd0cf3cdf). Edit:~~He’s trying to~~

TinyBaron · October 30, 2017 at 1:43 am

Of course she’s smiling. She married a rich husband. You should have had the sense to be born rich or marry someone who did too.

jingooftherex · October 30, 2017 at 1:43 am

>Tens of thousands of students deceived by now-defunct for-profit schools had over $550 million in such loans canceled completely under President Barack Obama.

>But Education Secretary Betsy DeVos is working on a plan that could grant such students just partial relief. That’s according to department officials who were not authorized to publicly comment on the issue and spoke on condition of anonymity.

>If DeVos goes ahead, the change could leave many students scrambling after expecting full loan forgiveness, based on the previous administration’s track record. It’s not immediately clear how many students might be affected.

jogam · October 30, 2017 at 1:43 am

This is ridiculous. If you defraud students, you should be on the hook for the cost of their education, plus the opportunity cost (e.g., what the student could have earned had they spent their time they spent at the fraudulent school working or earning a legitimate degree elsewhere). In general, I’m in favor of not allowing student loans for for-profit universities. That constitutes a government subsidy of a for-profit business rather than a non-profit institution, and although I can acknowledge that there are a handful of good for-profit institutions, the overwhelming majority of student loan and educational fraud problems are coming from for-profit institutions.

studentdebtsucks123 · October 30, 2017 at 1:43 am

Throwaway

I am someone who attended ITT and applied for forgiveness, with pretty detailed information, the day it was suggested. I have waited over a year with 0 feedback, and told I can’t get any info. My loan servicer recently extended my forbearance, so it seems to still be ongoing.

I was promised a job in game design. I was told there was a 95% placement rate. I was told I would get a well paying job and ITT would help me find one. None of that happened. I did not find a job in the game design. ITT did not help me find one.

ITT took my money. Instead of Semesters there were quarters, year round, so that they could milk money. Each quarter the max was charged for each class. I eventually got a phone call, saying that I ran out of federal funds and would have to take out loans through Sallie Mae at 13.8% interest. They managed to ‘find’ another quarters worth of credits to transfer in.

I ‘graduated’ with a 4.0 valedictorian and perfect attendance every single quarter. I worked my ass off. I am not an idiot by any stretch (My original major was Bio/Pre-vet at a major state school).

Others have said in this thread “Just pay it back” Well I wish I could.

In all honesty, I don’t want to ask for forgiveness. I want to have a decent, well paying job that allows me to pay back my loans. I want to get a new degree, something actually valuable. But I can’t because ITT ate up all my federal money. Until ITT told me, I had no idea there was a lifetime aggregate cap on student loans.

Now, if I went to grad school, that would unlock a new bit of funding. But not a single school will take my degree for grad school. I have to start over. But I can’t. Because I can’t go to school at these current prices.

I have more evidence that I won’t really go into here, but I was Defrauded by my school. Not everyone knows they are being defrauded at the time.

When you are in the thick of things, being pressured to continue a half finished degree, excited to advance a career and make something of yourself, you don’t realize that those bootstraps are only painted on, and not something that you can actually pull yourself up by.

I graduated nearly 10 years ago. I still can’t afford to pay all my loans at the rate they (Navient/Great Lakes) want me to. I simply can’t afford $600 a month in loans (I have friends that owe $1000+ a month, so I am considered ‘lucky’) even after being in my current job for 9.5 years.

It has only really been with the rise of MOOCs that I have realized that there is a way out of my situation. I have worked hard to make inroads and connections and it is paying dividends (a lot of connections and now some attention from recruiters) but it is still a waiting game until they can find me something in my area that pays what I need.

Also, here is also another FU. From what I understand/read/been told, IF you get forgiveness, that is taxable income that you are suddently on the hook for.

So, what I envision is this:I get a partial forgiveness, not enough to let me get a real degree elsewhere, but enough to trigger a tax liability that I can’t afford, and end up in an even worse situation. Because fuck people for trying to better themselves, right?

kooycat · October 30, 2017 at 1:43 am

Gee, what a shock! A president who owned a phony private “university” reversing decision to refund victims of fraud!

CopyX · October 30, 2017 at 1:43 am

Has everyone fucking forgot about Trump University?

I feel like I’m taking fucking crazy pills.

Fynn_the_Finger · October 30, 2017 at 1:43 am

Good. Those fucking liberals wont let me have mah confederate heritage of actually owning people, but at least the indentured servitude of debt slaves is better than nothing. ^^^^/s

Argikeraunos · October 30, 2017 at 1:43 am

All student debt should be cancelled this shit is fucked

susiederkinsisgross · October 30, 2017 at 1:43 am

“Fuck you, America!”

Tank3875 · October 30, 2017 at 1:43 am

Not only should their debt be forgiven, the fraudulent schools should have to reimburse them for the money actually spent there at the least. The fact that that isn’t happening is worrisome at best.

anti-pope · October 30, 2017 at 1:43 am

🎶 *Money, money, money* 🎶

MechaSandstar · October 30, 2017 at 1:43 am

Every person with college debt who wasn’t inspired enough to vote, voted for this. Enjoy it.

FunnyFool · October 30, 2017 at 1:43 am

Of course not! Trump was one of the ones DEFRAUDING STUDENTS with his for-profit Trump University.

Basketspank · October 30, 2017 at 1:43 am

Of course they won’t. Why are any of your surprised when this man or anyone attached to him do anything like this, when we have already established that this is what him and the people who allow him to do, do?

We know what he is, we know the party he is with would rather prop him up than admit wrong in any capacity. If the people will not stand up collectively and hold them accountable, instead of bickering in comments sections and being mad on the internet, nothing will happen.

StaplerLivesMatter · October 30, 2017 at 1:43 am

A man who ran a fraudulent fake university thinks you shouldn’t be able to get your debt forgiven if you went to a fraudulent fake university. Shocking.

B-B-B-BUT_HER_EMAILS · October 30, 2017 at 1:43 am

Trump supporters don’t care because by and large, Trump supporters avoid higher education.

Or education in general.

SocratesUrethra · October 30, 2017 at 1:43 am

We need to make absolutely sure that EVERY SINGLE ONE of these corrupt idiots are marked in history and taught to every future generation as the absolute worst and so full of hate and greed that they were willing to screw over, rob, and kill their fellow Americans for profit.

Anytime these scum say or do anything in the future, I want someone to immediately bring up the absolute fucked up shit they’ve done.

coffeespeaking · October 30, 2017 at 1:43 am

> Trump Admin Won’t Forgive All Debt For Students Defrauded By For-Profit Schools

I had to read that a couple times to digest the absurdity, and the level of wrongheadedness, even for this administration. You’re a victim of crime, the debt is invalid, but you still owe the money. Fuck these so-called people. I can’t wish enough bad shit to happen to them.

RedditGifts5550 · October 30, 2017 at 1:43 am

The fact for profit schools exist in the first place is bullshit. Schools should be non-profit all the way.

moonpie_rex · October 30, 2017 at 1:43 am

This is actually devastating to legitimate for-profit schools (like cooking schools). Since there won’t be any government mediation, and since most of the debt at for-profit schools is private, students can write it off under bankruptcy, still argue individually that they were defrauded and win, or simply not make payments and suffer only a few years of credit repercussions. Some middle ground would have allowed legitimate schools to remain open, and relieved some debt from those taken by illegitimate schools.

Le Cordon Bleu closed its doors in the USA entirely over the impasse in student loan mediation recently. Five or ten years from now, when the overall quality drops in every commercial kitchen in America, this will be a big reason why.

somethingsghotiy · October 30, 2017 at 1:43 am

‘course not. Their buddies are the CEOs of the “schools.”

1b7ymmm · October 30, 2017 at 1:43 am

Betsy De Boss needs to be curb stomped

UndoubtedlyUltimate · October 30, 2017 at 1:43 am

“They knew what they signed up for”
-Betsy DeVos, probably

tacosandcookies · October 30, 2017 at 1:43 am

Well, to be fair, education is the enemy of the Republican party.

Snarff01 · October 30, 2017 at 1:43 am

An heiress to a pyramid scheme empire doesn’t want to repay defrauded people. I am shocked, shocked I tell you!

Nanteen666 · October 30, 2017 at 1:43 am

When they were forgiving debt. Did they sieze the assets of those schools?

callingallkids · October 30, 2017 at 1:43 am

How is she such a horrible person?

thrustrations · October 30, 2017 at 1:43 am

That’s because she’s a sociopath

agen_kolar · October 30, 2017 at 1:43 am

Can someone explain how she can undo this? I thought this was over and done with.

Diknak · October 30, 2017 at 1:43 am

An administration run by a con man protects con artists. Crazy

_Prisoner_24601_ · October 30, 2017 at 1:43 am

They need that money for tax cuts for the rich.

george2060 · October 30, 2017 at 1:43 am

Why would that surprise normal people?

LoticLeast · October 30, 2017 at 1:43 am

revenge for Trump U’s failure

-Codiak- · October 30, 2017 at 1:43 am

They will, just not the ones defrauded by Trump University…

TacoBellMild · October 30, 2017 at 1:43 am

Of course he won’t. Because then he’d have to pay students back for his fraudulent school.

Deadpool_666 · October 30, 2017 at 1:43 am

We stole your money fair and square.

Gingorthedestroyer · October 30, 2017 at 1:43 am

They knew what they were getting into.

2legit2fart · October 30, 2017 at 1:43 am

Oh, let’s see… Looks like senators Bob Corker and Jeff Flake both voted for DeVos. Even McCain voted for her. (I guess that was before he knew he had cancer.)

What was that about standing up against the administration, and doing what’s right? Hot air? Lovely.

Ramza_Claus · October 30, 2017 at 1:43 am

What counts as being defrauded?

I went to University of Phoenix and I feel like it was a waste of time and money because they didn’t support us at all. I ended up using a cheaper non-profit online school (Western Governors) and graduated a while later.

The problem is that I wasted my lifetime capped Pell Grants at Uof Phx which weren’t even enough to cover my tuition so I had to borrow ON TOP of my $5500/year grants to attend U of Phx. And then by the time I got to WGU (a good school) I couldn’t get grants and had to get loans for tuition, which I wouldn’t have had to do if I hadn’t wasted time/money with stupid U of Phx.

So I don’t know if that counts as defrauded or just me being naive and stupid.

Meme_University · October 30, 2017 at 1:43 am

I mean the government also shouldn’t allow them to exist in the first place. I was listening to a popular personal finance show today and a caller was asking the host about negotiating federally insured student loans (you can’t…breaking news). Anyway her husband had just under 100k in loans and went to a for profit arts school. Absolute stupidity.

destructormuffin · October 30, 2017 at 1:43 am

I’ll take “Shit That is Fucked Up” for $300.

highprofittrade · October 30, 2017 at 1:43 am

Of course not she was on the board of these companies and has shares…one of the worst appointee of Trump administration

blackjackjester · October 30, 2017 at 1:43 am

Why would it be the governments job to fund reparations? You don’t get your money back when someone steals your car, you don’t get money when someone steals your identity, why would you get money if you get a scam education?

superay007 · October 30, 2017 at 1:43 am

How about we just forgive everybody’s student debt? Shit, even just wiping out undergrad debt would make a big difference. You wanna create jobs? Let all that money that people are losing to student debt stay in their pockets and see what they do with it. They’re spending that ish, which means more shit needs to get made to keep up with the increased demand, which means more people need to be hired to make said shit and staff the stores that sell said shit, which means even more people with spendable income In their pockets. That’s how you move an economy. Even the rich people benefit from the increased spending. There’s something in there for everybody.

Qubeye · October 30, 2017 at 1:43 am

I’ve always found it bizarre that if you declare bankruptcy, student debt is literally the *only* debt that cannot, under any circumstances, be forgiven, and you’re still going to accrue interest and get fucked over.

PurpleSailor · October 30, 2017 at 1:43 am

Well, you know, trump University

SghettyCorn · October 30, 2017 at 1:43 am

God. She’d be a perfect Cruella de Vil. A bus cannot hit her soon enough.

angrybirdseller · October 30, 2017 at 1:43 am

Loans given for non-accredited schools or under false pretenses is fraud

buttholesaplenty · October 30, 2017 at 1:43 am

This is why you don’t give cabinet posts to wealthy housewives.

blatantninja · October 30, 2017 at 1:43 am

I dislike for profit schools in general but what is the justification of governmental debt relief? If I get defrauded by a car company, the government isn’t going to cancel my debt. The relief is supposed to come from the entities, and their backers, engaging in the fraud. Did the student loans include some types of assurance to borrowers or something?

springbreakbox · October 30, 2017 at 1:43 am

If there was fraud, then just take it to a criminal court. The pathological “any excuse to bash the President” is stupid.

CertifiedGenius420 · October 30, 2017 at 1:43 am

DeVos sucks more dick than the mods on this subreddit.

Anonymous · October 30, 2017 at 1:43 am

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