The U.S. Department of Education has fined Michigan’s Baker College $2.5 million for years of “substantial misrepresentation” of career outcomes, following a 2022 ProPublica-Detroit Free Press report detailing the college’s low graduation rates and the heavy debt that many students shoulder.
debt
More than a dozen borrowers told the Tennessee Lookout and ProPublica that Advance Financial encouraged them to borrow more money after making minimum payments.
The lender went on to sue them once they couldn’t pay back the loan.
https://www.propublica.org/article/flex-lenders-reborrow?utm_source=mastodon&utm_medium=social&utm_campaign=mastodon-post
The USDA failed to follow its own guidance for a rural mortgage program, taking years to foreclose on delinquent loans.
As a result, 55 Maine borrowers racked up, on average, $110,000 in additional debt before the agency moved to take the homes.
https://www.propublica.org/article/usda-maine-foreclosures-rural-homeowners?utm_source=mastodon&utm_medium=social&utm_campaign=mastodon-post