Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 15, 2022 erstellt
Beschreibung:
Earlier this month, the Department of Education (ED) announced that it would discharge the remaining $5.8 billion owed by 560,000 federal student loan borrowers who had been defrauded by the sham for-profit education provider Corinthian Colleges. Relief for these borrowers came after advocacy and lawsuits spanning three presidential administrations, with ED finally agreeing only after endless prodding to wield its clear authority to cancel the debts of those who have been fleeced by their schools. But ED’s work is not done. In addition to still needing to ensure that it provides relief to all borrowers who attended schools just as predatory as Corinthian, ED must also address a new and starkly under-discussed area of risk being generated by the latest fly-by-night operators in the education space: online program managers (OPMs). OPMs are private companies that purport to help colleges expand their online course offerings through a range of services that can include filling seats, hosting web content, and more. As we have written before, OPMs have a shocking track record of using glossy, misleading marketing to push students into debilitating debt loads for educational programs that prove to be little more than diploma mills