University of Phoenix Loan Forgiveness
The University of Phoenix is a for-profit career college owned by the Apollo Group. In fact, it’s the biggest for-profit college out there. Some critics of for-profit higher education have alleged that Apollo Education Group and the University of Phoenix “prey upon veterans” loan forgiveness is available for students.
Only about 9% of first-time bachelor students graduate within 6 years, and only 5% of online students- compared with a 55% graduate rate at public institutions, and 65% at private nonprofit universities.
The university has paid many government fines over the years and has settled multiple whistle-blower lawsuits regarding its admissions practices and educational programs.
For-Profit universities have been under a lot of scrutinies lately for their contribution to the student loan debt crisis. Luckily, there are options for students. Goodbye Loans can help determine if you might qualify for student loan forgiveness as a result of the lawsuit. And in the meantime, our team of dedicated student advocates will help reduce your monthly cost to the minimum amount possible until such a time that forgiveness may be a possibility.
Goodbye Loans matches thousands of graduates with federal student loans programs that are offered by The Department of Education to consolidate and lower their current Federal student loans. We help you take advantage of the latest regulations put in place by Congress and President Obama and potentially save thousands of dollars. Debt is hard to ignore. When you’re staring down a ballooning credit card balance and fending off insistent phone calls from angry creditors, it can be an all-consuming enemy.
Over the past couple decades, the University of Phoenix has had several run ins with the government:
- 2000: The federal government fined University of Phoenix $6 million for charging instructional hours for study-group meetings.
- 2003: A lawsuit formed by two former University of Phoenix recruiters claimed that the university wrongfully obtained $3 billion of financial aid dollars by paying its admission counselors based on the number of students they enrolled, which is a violation of the Higher Education Act. Apollo Education Group, University of Phoenix’s parent company, settled the lawsuit by paying the government $67.5 million, and an additional $11 million in legal fees, without admitting any wrongdoing.
- 2008: The University of Phoenix received a whopping $2.48 billion from federal student loans.
- 2009: the Department of Education produced a report that indicated some students would register and begin attending classes before completely understanding the implications of enrollment, including financial aid eligibility.
- 2010: University of Phoenix came under scrutiny yet again after its Phoenix and Philadelphia campuses were found to have been engaging in deceptive enrollment practices and fraudulent solicitation of FAFSA funds.
- 2011: Parent company Apollo Education Group was informed that a complaint had been filed under the Federal False Claims Act and California False Claims act. The complaint alleged that the University of Phoenix had violated the Federal False Claims Act since 2009 and the California False Claims Act for the preceding ten years by falsely certifying to the Department of Education and the State of California that the university was in compliance with different regulations that required compliance with federal guidelines regarding the payment of incentive compensation to admissions employees in connection with the university’s participation in federal financial aid programs. The complaint sought damages on behalf of the Department of Education and the State of California, including all student financial aid disbursed by the Department of Education to the university since 2009 and by the State of California since 2001.
- 2015: The Department of Education’s Inspector General demanded records from the University of Phoenix and its parent company the Apollo Group going back to 2007 relating to matters regarding marketing, recruitment, enrollment, financial aid, fraud prevention and student retention. This caused a sharp drop in the Apollo Education Group’s stocks.
- 2016: Stockholders of Apollo Education Group filed a class-action lawsuit against the corporation, arguing that the company withheld information that led to significant losses in stock prices. Several of these allegations are specifically related to University of Phoenix’s recruiting of military personnel and veterans.
University of Phoenix Student Loan Forgiveness
Student loan debt has reached an all-time high, and according to the Consumer Financial Protection Bureau, the total amounts to around $1.4 trillion. Goodbye Loans can help determine if you qualify for student loan forgiveness as a result of the lawsuit against the University of Phoenix scam.
Goodbye Loans matches thousands of graduates with federal programs that are offered by The Department of Education to consolidate and lower their current Federal student loans. We help you take advantage of the latest regulations put in place by Congress and President Obama and potentially save thousands of dollars. Debt is hard to ignore. When you’re staring down a ballooning credit card balance and fending off insistent phone calls from angry creditors, it can be an all-consuming enemy.