For-profit colleges are typically private schools that are poorly run and have poor performance results. The graduates of these for-profit scam universities have a hard time finding jobs in their selected career field after graduating.
A famous example of a for-profit school scam is Trump University. In 2013, the New York Attorney General started a fraud case against Trump University after receiving dozens of complaints of students scammed into real estate investing classes. Trump University operated from 2004 to 2010.
Hundreds of other colleges and universities prey on veterans with educational benefits and low-income individuals eligible for federal grant money. The Obama administration has attempted to better regulate these for-profit schools. One of the larger for profit colleges, Corinthian Colleges, has been forced to shut down. However, that doesn’t mean former students who have worthless degrees will necessarily get their money back and owe less
Other lawsuits against schools include fraud cases against law schools alleging employment data was inaccurately portrayed. For example, former Thomas Cooley Law School students joined in a class action lawsuit in 2011 that was dismissed. Most of these cases have not been successful at eliminating student loan debt of former students.
If you want help getting your student loans under control, call Debt Resolution Attorneys at 1-855-842-8500.