College graduates across the country saddled with student debt have become prime targets for 'bad actors' eager for a piece of the student loan industry.
At the bottom of its website, the company says in small type that it is a"document preparation service" and offers information about federal student loan programs, but"will not pay your student loans for you or on your behalf."
Eileen Connor, the director of litigation at Harvard Law School's Project on Predatory Student Lending, said that the most vulnerable are being taken advantage of and that the Department of Education has been unable to crack down on"the most pernicious side of the student loan debt crisis.
The 2020 Democratic candidates for president have put the issue of student loans at the forefront of their campaigns, with some supporting the elimination of undergraduate tuition and fees at public colleges and universities, as well as helping those with existing debt to refinance their loans.But any future overhaul does nothing currently for borrowers such as Lannon, the San Diego woman making $18 an hour and being called daily to repay her student loans at a rate of $2,000 per month.
She's unsure if she will qualify to have any of her federal loan debts with ITT canceled as part of a 43-state class-action lawsuit settlement that was approved by a federal judge this month and comes after more than 18,000 former students said the college pressured them to accept so-called temporary credit loans that carried high interest rates and had to be paid back before they even graduated. ITT never commented on the allegations.
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