Several other recent scandal are Corinthian Colleges filing for case of bankruptcy in the 2015 when confronted with scheming having financial Aequitas in order to lure unqualified individuals in order to acquire higher attract private figuratively speaking, by code listed above you to definitely colleges need certainly to access the very least ten% of their university fees out of present except that federal finance. Corinthian called these types of “Genesis” loans. “Tens of thousands of Corinthian people had been harmed by new predatory credit system funded by Aequitas, flipping dreams of higher education on a headache,” told you Individual Economic Safeguards Agency Director Richard Cordray into the an announcement.Läs mer→