The below quote was featured in the New York Times this week. It is absurd that people have been allowed to take out this much money in federal loans to attend a for- profit school that had a history of less than dismal performance. We are not doing enough tho educate people on all things related to student loans/ tax funded loans.
Another borrower, Victoria Linssen, applied in October for forgiveness on the $50,000 in federal loans that she had taken out to study photography at the Brooks Institute in Ventura, Calif., a for-profit college that shut down last year after extensive regulatory criticism and penalties. The college lied about its accreditation, its job placement rate and the wages its graduates earned, Ms. Linssen said. (emphasis mine)