“Essentially every for-profit institution we’ve looked at does [institutional loans],” said Christopher Madaio, vice president for legal affairs at Veterans Education Success. Depending on the circumstances, students may not fully understand that they are taking out a loan, he added. They may instead believe they just have a “balance” to repay the institution or tuition, as some loans do not advance cash to students.

Read the full article here in The Capitol Forum.

For-Profit Education 2022-02-01 For-Profit Colleges Under CFPB Scrutiny for Lending