Calling themselves the "Corinthian 100" — named for the troubled Corinthian Colleges, Inc., which operated Everest College, Heald College and WyoTech before agreeing last summer to sell or close its 100-plus campuses — about 100 current and former students are refusing to pay back their loans, according to the Debt Collective group behind the strike. By not paying back their loans, the former Corinthian students potentially face a host of financial problems, such as poor credit ratings and greater debt because of interest accrued. Dieffenbacher said she received an associate's degree in paralegal studies from Everest College in Ontario, California, and later went back for a bachelor's in criminal justice before later dropping out. On Tuesday, the Education Department released a list of 560 institutions — including for-profit, private and public colleges — that had been placed on heightened cash monitoring, meaning the department's Federal Student Aid Office is providing additional oversight of the schools for financial or compliance issues. The administration has taken other steps to crack down on the for-profit college industry, such as announcing a new rule last year that would require career training programs to show that students can earn enough money after graduation to pay off their loans.
Similar Stories to Student Loan Recipients Go On Repayment Strike, Face Default on Bing News
KIMBERLY HEFLING, AP Education Writer, San Antonio Express-News: World
Tue, 03/31/2015 - 12:56am
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