The List Of Students Loan Defaulters That Are Signing The Debt Collective Is Growing

15 Students Refused To Pay At First Now There Are 85 Names On The List

The student loan debacle is not going away anytime soon. The Consumer Financial Protection Bureau wants to hear what the “Debt Collective” group has to say, so all 85 people on debt-strike have been invited to Washington to explain their position. The CFPB can’t resolve their issue, but it can listen and get other government agencies to listen as well.

Corinthian Colleges deceptive marketing and false graduation rates is behind the student’s decision to stop paying their loans. Corinthian runs Heald, Wyotech and Everest Institute. Those institutes lost federal funding because of their alleged deceptive practices. The for-profit education industry is under investigation by the Department of Education. As Brad Reifler understands it, the industry that was once a profitable stock market investment is now a losing money proposition.

The students strike is a dangerous financial move. The government can collect the money through tax refunds and payroll liens. The government can even collect future Social Security money if the Department of Education wants to prove a point. No one thinks that will happen. But something has to be done to rectify the issue, or the strain on the economy will have a major impact on the quality of life for all Americans.

One thought on “The List Of Students Loan Defaulters That Are Signing The Debt Collective Is Growing”

  1. Well the matter of educational debt is really going to occupy the minds of our loving Americans for some years and I think that we can have the best impact. Through where can i buy essays online and other sources do not need to incur any debt and the government should pay the loans off. It is smart to see that there may not be equity and then in fact we can see why education is not free yet in the world.

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