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The Biden administration is canceling nearly $37 million of federal student loan debt for more than 1,200 borrowers who attended the University of Phoenix because it found that the for-profit ...
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 ...
In April 2023, the University of Arkansas System Board voted against the proposed sale. In May 2023, the University of Idaho announced a deal to acquire the University of Phoenix. The total cost would be $685 million raised through bonds. A new entity was created for the purchase by U of I ultimately named Four Three Education.
The action applies to borrowers who enrolled in Phoenix between Sept. 21, 2012, and Dec. 31, 2014, and applied for a borrower defense loan discharge.
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
The University of Phoenix is a wholly owned subsidiary of the Apollo Education Group. The University of Phoenix is one of the largest higher education providers in North America. The university has approximately 40 campuses and confers degrees in over 100 degree programs at the associate, bachelor's, master's and doctoral levels.
Of the roughly 64,000 undergraduate students who attend the University of Phoenix, only 27% receive a degree, according to a U.S. Department of Education scorecard. U of I’s graduate rate is 60% ...
A settlement was approved in August 2022, stating that the schools on the list were included "substantial misconduct by the listed schools, whether credibly alleged or in some instances proven." In April 2023, the Supreme Court rejected a challenge to the settlement and allowed to proceed the debt cancellation due to alleged fraud.