Former students of bankrupt for-profit schools complain the education department won’t forgive their loans – CBS Pittsburgh

PITTSBURGH (KDKA) – When the ITT Technical Institute suddenly closed in Pittsburgh three years ago, it left many students like Patrick Richards embarrassed.

“I’m really, really concerned right now about what’s going to happen with all of my loans,” said Patrick Richards, an ITT student at the time.

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He is hardly alone.

Students and graduates across the country felt cheated and hurt when their private, for-profit schools went bankrupt.

“It’s a lot of broken promises. You know they’re going to have a lot of aggressive recruiting mechanisms where they’ll say things like, “Our graduates are guaranteed to get jobs,” said Ben Miller of the Center for American Progress.

Miller says some students have had their loans canceled, but not all.

“The students who were at the ITT when it closed were able to get their loans canceled,” Miller said. “But you had all these other people who went to ITT for years and couldn’t find a job and was in a very difficult situation, and they tried to get help. through the Ministry of Education.

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During the last year of the Obama administration, the department structured a way to forgive these loans or some of them.

But President Trump’s Education Secretary Betsy Devos takes a different approach.

“Do the opposite of what Obama did,” Miller says.

Miller says Devos first stopped investigating whether students were harmed by these institutions, then added, “The second thing they’re doing is cooking up an incredible amount of bad math.” and statistics to make it virtually impossible for someone who has proven her have been wronged to actually get much relief in the form of canceled loans. “

Devos says the new formula ensures that beneficiaries are not overcompensated.

How to determine the loss of the student or the graduate is a difficult problem.

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Now Secretary Devos will testify before the House Education Committee in Washington on Thursday and is expected to be toasted on the subject.


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