Attorney general maura healey stated, "We allege these for-profit schools lured hopeful students into enrolling in their vocational programs by promising certain careers, but only left them with substantial debt. Students trying to better their lives through education are instead being left financially ruined.
The Federal Pell Grant is a student grant given to those from lower income families who wish to pursue higher education. To be eligible for this grant, you have to present proof that you are in need of financial aid. Those from families with an annual income lower than $20,000 were found to make up 57% of grant recipients, though this was not the case in the years 1999 to 2000, as majority of.
· The only time you should not pay off any debt is if you can invest the money at a better rate. In my case I have 2 mortgages 1 at 5.625% and 1 at 7.25%. I’m paying tons more in extra principle on the 7.25% mortgage because it’s hard to get.
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· I want to make sure we keep our Pell – Pell Grant program growing. We’re also going to have our loan program so that people are able to afford school.
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For Profit Schools Turn Students Into Debt Zombies; It’s Time To Kill The Entire Pell Grant Program If president Obama gets his way, still more money, up to $50 billion, will be thrown at the failed Pell Grant system. Pell Grants are based on a means test and the funding comes with no strings attached. The money does not have to be repaid.
Watch full-length episodes of PBS documentary series FRONTLINE for free. College, Inc. – How Wall Street and a new breed of for-profit universities are transforming the way we think about college.
Can I Transfer My Pell Grant From One School to Another? Students who receive federal financial aid, such as Pell Grants, are allowed to transfer them from one school to another. However, the process requires you to preplan your transfer or make edits to your Free Application for Federal Student Aid.
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