But it turned out that none of that was true, and now Corinthian Colleges is under fire.
Corinthian is one of the nation's largest for-profit college companies and, according to a recent article from the New York Times, the company has "long come under fire from federal and state regulators, with a host of investigations and lawsuits charging falsified placement rates, deceptive marketing and predatory recruiting — targeting the most vulnerable low-income students."
But Corinthian is not alone at the center of the questioning. The Department of Education has faced scrutiny of its own in regard to the student loan debt crisis because the Department is not merely a blameless debt collector. As the Times article articulates, the Department issues the loans in question and is relied on to hold colleges like Corinthian accountable to standards of eligibility. It could go without saying, but falsified placement rates and deceptive marketing do not fall within those standards. Because students relied on the Department to issue returnable loans for profitable educations from reputable schools, could the Department perhaps be more liable for the crisis than Corinthian (and other for-profit institutions like it)?
It really is a good article: http://www.nytimes.com.
Where's the student loan debt crisis headed?
Posted by Parker Fulton
Photo from NYTimes.com