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Thursday, October 29, 2015

Corinthian College Loss May Be Gain For Scammed Students

Corinthian College was ordered to pay out 530 million dollars to former students this week for scamming them, but the students probably won't see a dime since the fraudsters declared bankruptcy earlier this year.

 The Corinthian lawsuit was filed and won by The Consumer Protection Board was that the school engaged in deceptive practices to lure students in and then methods that would make a loan shark blush to pay up.

So how do others benefit? This case might make it easier to try and get federal loans discharged. Among other things, the judgment found that Corinthian violated the law by using inflated job prospects to lure in students. What graduate school hasn't done that?

So fret not, indebted students, someday and I don't know when it will be, but soon and in our lifetime, we may finally be able to live in a country where scamming schools are punished instead of the students.

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