Advocates for college kids and veterans lauded a record $ 191 million settlement reached during a case against one among the country’s largest for-profit college chains in the week as a crucial breakthrough in protecting students, but said the compensation was “a drop by the bucket ”compared to the entire debt borrowers owe.
The University of Phoenix and its parent company, Apollo Education Group, agreed to cancel $ 141 million in student debt and to pay $ 50 million to the Federal Trade Commission to return to consumers within the deal announced Tuesday within the case that centered on allegations of deceptive advertising to students, including the targeting of veterans.
While the settlement is viewed as significant, advocates said the case showed the systemic problems in protecting students targeted by deceptive practices and shed light on the size of debt students will still owe due to their loans.
“Despite the quite $ 100 million in relief, it’s a drop by the bucket in terms of the entire amount of debt that these borrowers owe, ”said Seth Frotman, executive of the scholar Borrower Protection Center, a nonprofit advocacy group. “I think what this case demonstrates is that the deep systemic problems that still exist within the student loan market and especially around predatory for-profit schools. ”
In 2019, many students can be qualified for the University of Phoenix student loan forgiveness. After the lawsuit against UOP, it became clear for everybody that the University of Phoenix committed illegal activities and violated the state laws. The lawsuit charged the UOP, as it used delusive recruiting methods, misrepresenting the income and job replacement rates. After this student loan class action lawsuit, University of Phoenix settled $10 million by ED. As the Department of Education announced, borrowers may get partial loan forgiveness, depending on their income. If you are a student misled and defrauded by the University of Phoenix, there are closed for-profit school student forgiveness programs, such as Borrower Defense to Repayment to discharge your student loans. In our article, we will guide you through the application process on how to get the University of Phoenix student loan forgiveness.
The University of Phoenix is founded in 1976, headquartered in Arizona, the United States of America. The University started with eight students as a for-profit school. The enrollment at the university was high in 2010, but the numbers declined after the lawsuit. Since 2015, the University of Phoenix has been investigated by FTC.
The University of Phoenix committed illicit activities against both the students and the federal government. UOP violated the state laws, defrauded the students about getting student loans, and job placement after graduation.
If you are among the deceived victims of this school, there is an opportunity for you to get a discharge for your student loans. The University of Phoenix student loan forgiveness is for the borrowers who believe they are misled and defrauded by UOP.
The University of Phoenix is accused of many deceitful and illicit actions against the students. The class action lawsuit is the end for UOP. Many students claimed that education quality was not as good as the university promised. As a for-profit school, the University of Phoenix is being sued for violation of the contract and the contractual relations, taking the advantages of many low-class citizens, false advertisements, terrible actions, such as providing false information to the government about student aid statistics.