Two recent moves suggest the administration is helping out the student loan industry at the expense of borrowers.
GAO: Cost of Education Dept.’s debt relief program off by billions
The GAO says that the Department of Education’s “income-driven repayment” plans for federal student loans will rack up “government costs of $74 billion” in the upcoming fiscal year.
Life and debt: Profiles of people caught in student loan crisis
More than 8 million borrowers have defaulted on their student loans. For millions more, the financial burden of those loans has altered lives, relationships, even retirements. Here’s a look at how people are coping with their debt.
How Corinthian Colleges, a for-profit behemoth, suddenly imploded
Corinthian Colleges was one of the world’s largest for-profit college chains – and one of the biggest moneymakers. But even in a boom-and-bust business, its closure and bankruptcy in 2015 was a remarkable collapse.
Who’s getting rich off your student debt?
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.
The takeaway: How privatization changed the student loan game
The highlights of our investigation into how the student loan system – originally created to alleviate poverty and inequality – became a profit center for Wall Street, private investors, even the government.
Share your student debt story using the hashtag #MyDebtCouldBuy
We wanted to inspire a creative way to highlight all that debt – and to build a conversation that puts it out in the open. Which is why we’re launching a new social media campaign today to hear about your experience.
Who got rich off the student debt crisis?
Today, just about everyone involved in the student loan industry makes money off students – the banks, private investors, even the federal government.
In debt and out of hope: Faces of the student loan mess
Every student’s struggle with student loans tells a different story. Here’s a look at how nine people are coping with their debt.
How a small-time company became the ‘Wal-Mart of debt collection’
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.