When did accountability become a dirty word in this country?
When I went to college I chose one based on the value it offered. I could have went away to a $50,000/year school but I didn’t. I choose to go to a state school that I could afford to pay for while I worked my way through school.
Call me crazy, but it sure seemed like a terrible idea to take on a loan the size of a primary mortgage in my early 20’s.
Fast forward to today and I know people who are in their 40’s who are STILL trying to pay off their student loans …
Christina Laila of The Gateway Pundit reported:
The US Supreme Court on Thursday allowed $6 billion in student loan forgiveness after it declined to intervene in a class action lawsuit.
The high court rejected a request by colleges challenging the case.
This case is not related to Joe Biden’s student loan forgiveness plan that is currently on hold and before the US Supreme Court justices awaiting a ruling.
The lawsuit could lead to the cancellation of more than 200,000 loans amid claims the borrowers were misled by the colleges.
NBC News reported:
A settlement that will allow thousands of student loan debts to be canceled will go into effect after the Supreme Court on Thursday declined to block it.
The Supreme Court in a brief order rejected a request made by colleges challenging the settlement.
The class-action settlement concerns loans that borrowers claim should be canceled because they were taken out based on misrepresentation made by their schools, many of which are for-profit. The settlement could be worth more than $6 billion.
The case arises from a settlement that California-based U.S. District Judge William Alsup approved in November in a case brought by borrowers. The government has already started implementing the settlement.
The application at the Supreme Court was filed by Everglades College, Lincoln Educational Services Corp. and American National University. Lincoln and American National are for-profit enterprises, while Everglades is not-for-profit. All three operate colleges the federal government placed on a list of more than 150 institutions that it said are linked with claims of “substantial misconduct.”
I just have one question … will those of us who paid as we went &/or already paid off their loans, be getting a refund? For some reason I sincerely doubt they will.
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