For-Profit School Scams Leave Americans Drowning in Student Loan Debt

With the latest news coverage on for-profit colleges spotlighting the shut-down of twenty-eight campuses owned or operated by Corinthian Colleges, Inc., the American public is beginning to scrutinize what have been on-going occurrences of fraud throughout the country for decades. Although for-profit institutions have been popping up everywhere over the last couple of decades offering prospective students quick and easy degrees with the promise that these degrees will lead to viable employment opportunities, these institutions are just now being chastised by the U.S. Department of Education for their fraudulent and unethical practices. Corinthian Colleges, Inc. has recently been under fire for predatory recruitment of students, dissemination of false statistics regarding employment rates of their graduates, and deceptive advertising practices.

Many Americans have been lured into enrolling in for-profit institutions by promises that obtaining degrees from these institutions will improve their lives and employment opportunities. For-profit institutions commonly have advertising and marketing budgets that are much larger than the funds they are actually allocating to improving the quality of education they are offering. For-profit institutions commonly advertise through television commercials on channels that specifically target low-income individuals. Once the individuals are duped into enrolling in classes offered by the institutions, the for-profit colleges encourage the individuals to take out both federal and private student loans to pay for tuition. Most colleges facilitate the student loan transactions by assisting the students in filling out the required paperwork.

Unfortunately, many of the students who have fallen prey to these tactics have found themselves without any viable job prospects. Additionally, they have found that the degree they were conned into spending tens of thousands of dollars on holds little value. Many Americans are drowning in student loan debt and find themselves unable to make the monthly payments upon graduation. Student Loan Law Group recognizes that these borrowers have fallen victim to fraudulent practices and encourages those who took out student loans to finance their education to contact Student Loan Law Group’s offices today to determine what their rights are. Student Loan Law Group helps borrowers consolidate their student loans and apply for income-driven repayment plans if they are qualified. In certain cases, qualified borrowers can even have their student loan debt immediately discharged.  

Student Loan Law Group’s attorneys may represent borrowers who have fallen so far behind on their payments that they have been declared in default. The attorneys with Student Loan Law Group may prevent wage or tax garnishment or stop a garnishment that has already begun. Borrowers are urged not to delay in resolving their student loan problems and should seek help immediately by contacting Student Loan Law Group.