Elizabeth Warren Slams the Education Department for Failing Student Borrowers

[n2doc]

Corinthian Colleges, once among the largest for-profit educational institutions, collapsed Monday under charges of predatory lending, deceptive advertising, falsifying job-placement statistics, and other abuses. One of the questions raised immediately by Corinthian’s closure is what will happen to the current students who’ve borrowed federal money to attend the sham school—will the government forgive their loans? And what about former students, or those who attended other fraudulent for-profit schools?

Massachusetts Senator Elizabeth Warren laid into the Department of Education on Monday for not doing enough to help Corinthian students and others get rid of their debt. Speaking alongside Representative Elijah Cummings at Howard University, Warren said that the department “has all the information it needs to simply discharge the loans” of Corinthian students. “But the department isn’t doing that.” The problem is that many borrowers don’t know they might be eligible for relief, and neither the Education Department nor the companies that service the loans are telling them.

“These borrowers—people who were cheated and people who have been buried in debt— just keep on paying and the government just keeps on collecting,” she continued. “This is wrong…. The government should not be making a profit off the backs of people who are trying to get an education. Can I get an amen on that?” She did.

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[KoKo]

1. Another ...AMEN!