Taking a break from the Ukraine and Russia world issue Biden has a new Biden has a wave of student loan forgiveness coming out. Biden has failed hard on most of his promises from his campaign to be President. However, many students could lose their debt on the first wave.
The newest round will attack the debt at the for-profit college Devry University. This may not be because students are drowning in the debt they have accrued themselves. No, it’s because the Education Department found the university paid despite its misleading claims between 2008 and 2015. This means roughly 1,800 students will receive forgiveness totaling close to $72 Million.
What whats their misleading claim. The Education Department stated DeVry had advertised itself as “Career Placement University” with a 90% job placement rate. When in fact, its overall rate was below 60%.
Didn’t go to Devery? Don’t worry; they are not the only ones who will be receiving tuition forgiveness. 14,000 borrowers attended Westwood College, Corinthian Colleges, Marinello Schools of Beauty, the nursing program at ITT Technical Institute, and the criminal justice programs at Minnesota School of Business/Globe University.
Investor’s Edge with Gary Kaltbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.
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