Student Borrowers Desperate for Debt Relief from Fake Colleges Before Trump Takes Office
With President-Elect Trump owning his own for-profit college, students in droves are attempting to fast track their relief from the predatory for-profit colleges they attended in fear of the Borrower Defense Relief being repealed.
President Obama has put in place a student debt relief program for borrowers who felt defrauded by for-profit colleges. Now students in droves are attempting to fast track their relief from the predatory for-profit colleges they attended. Borrower Defense Relief was a recent bill pass by Obama in an attempt to help those who have been wronged by these institutions. The for-profit institutions would inflate their job placement rates and coerced students into taking out student loans.
There has been plenty of talks of the new presidential administration repealing and replacing all acts set in place by President Obama. With President-Elect Trump owning his own for-profit college, many borrowers who felt defrauded by similar college institutions. Students who attended Art Institutes, ITT Technical Institutes, and Corinthian Colleges are making their last chance efforts to appeal to the Obama Administration and the receive borrower defense relief.
Pam Hunt received a degree in criminal justice, which she called worthless, from Corinthian College. Hunt said that since her degree was worth nothing in the job market and was forced into taking a low paying job caretaking. With a low income and her student loans entering repayment caused Hunt to lose her home.
“The debt-to-income ratio was not good,” Hunt said in a video released by the Debt Collective, an organization working with the former students. “I’m not going to apologize for being [a caretaker], but I went to college for a degree in criminal justice,” Hunt continued. “I cannot get employment in that field because my degree is worthless… I will never be able to afford this educational debt and pay a mortgage. But if my debt was forgiven that wouldn’t be an issue.”
Donald Trump went through a recent fraud settlement for Trump University causing many current borrowers concern. Since the borrowers already feel defrauded from these schools, they worry about what they see as a figurehead coming into power. They are anxious that President-Elect Trump will back these for-profit schools and leave the disenfranchised borrowers in the dust.
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