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Altogether, the administration has canceled more than $117 billion of the nearly $1.7 trillion of outstanding federal student loan debt since 2021. The former University of Phoenix students now ...
The federal government is discharging $37 million in student loans for over 1,200 former students who attended the University of Phoenix. The action applies to borrowers who enrolled in Phoenix ...
University of Phoenix. University of Phoenix[3] (UoPX) is a private for-profit university headquartered in Phoenix, Arizona. [a] Founded in 1976, the university confers certificates and degrees at the certificate, associate, bachelor's, master's, and doctoral degree levels. It is institutionally accredited by the Higher Learning Commission [4 ...
In 2019, University of Phoenix and its parent company, Apollo Education Group, brokered a record $191 million settlement with the Federal Trade Commission to resolve charges that their advertising ...
This statistic compares with a default rate of about 13.7% for student loans generally. According to the Time magazine report, ITT Tech's default rate ranked second. The for-profit University of Phoenix had a lower default rate by percentage (19% at Phoenix versus ITT Tech's 22%). However, the total number of students in default from Phoenix ...
As of 2021, approximately 7.8 million Americans from 18 to 25 carry student loan debt, with an average balance of almost $15,000. [64] For adults between the ages of 35 and 49, the average individual balance owed exceeded $42,000. The average debt for adults between 50 and 61 is slightly lower.
June 30, 2022 at 6:00 AM. An estimated 200,000 defrauded former college students are set to have $6 billion in federal loan debt wiped clean as part of a proposed settlement agreement filed June ...
[22] [21] [23] More than 80,000 students were impacted by this settlement. [22] Each qualifying former student and each of the credit reporting agencies were to be notified of the settlement, and the settlement will be paid through 2022. [24] In 2016, eleven former Brown Mackie nursing students in Tucson, Arizona, sued the school for consumer ...