Just about everyone involved in the student loan industry these days – banks, private investors and even the federal government – makes money off the borrowers. On this episode of Reveal, we explore how this happened and who’s profiting from student debt.
Every student’s struggle with student loans tells a different story. Here’s a look at how nine people are coping with their debt.
Once a family-owned firm, NCO Financial Systems moved into the student loan collection business in 1996 and began buying up other debt collectors – before the Federal Trade Commission cracked down.
A Virginia juvenile court has dropped charges against Kayleb Moon-Robinson, a sixth-grader with autism whose rough arrest on felony charges was the focus of a Center for Public Integrity investigation into questionable school policing.
The Pentagon has taken the University of Phoenix off probation, three months after suspending the for-profit school from its military financial aid program and from recruiting on military bases.
How misbehavior that used to result in a trip to the principal’s office is now leading to arrests, interrogations and criminal charges.