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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 ...
The former University of Phoenix students now eligible for debt relief were enrolled at the school between September 21, 2012, and December 31, 2014, and have already applied for loan forgiveness ...
University of Phoenix leaders have said they expect the financial hit from student-loan costs to be about $1.5 million per year, according to a U of I FAQ page about the acquisition. U of I ...
The University of Phoenix was one of 153 institutions included in student loan cancellation due to alleged fraud. The class action was brought by a group of more than 200,000 student borrowers in 2019, assisted by the Project on Predatory Student Lending, part of the Legal Services Center of Harvard Law School. [92]
Private student loans typically have variable interest rates while government student loans have fixed rates. Private loans often carry an origination fee. Origination fees are a one-time charge based on the amount of the loan. They can be taken out of the total loan amount or added on top of the total loan amount, often at the borrower's ...
Student loans may be discharged through bankruptcy, but this is difficult. Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt.
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