A group of students from Corinthian Colleges are refusing to pay back their student loans for an education that led them nowhere. Were your college years worth the pricetag?
Ah, college. That carefree time before you were thrust into to the Real World; before the university walls came crashing down. Suddenly, after graduating, you're left scurrying for a job and saddled with mountains of students loans.
So a group of Corinthians College students is fighting the system.
The for-profit chain of Corinthian Colleges, which heads Everest Institute, Wyotech and Heald College, has found itself in hot water in recent months after losing federal funding last year, reports The Washington Post. Students claim that the failing schools were falsely advertising graduation rates and forcing them to enroll in dead-end programs that would not result in a job post-graduation.
Fifteen former Corinthians students, known as Corinthian 15, have banded together and are refusing to pay back their student loans.
"Who are we? We are the first generation made poor by the business of education,” wrote Corinthian 15 in a letter to the Department of Education. "We paid dearly for degrees that have led to unemployment or to jobs that don’t pay a living wage. We can’t and won’t pay any longer."
The student loan debate has been a hot topic, with many feeling that the education system is preying on vulnerable students. But then again, that's not the case for everyone; some college grads have landed lucrative jobs in an industry that they love.
Where do you fall on the spectrum? Do you think college was worth the financial investment? Take our poll and leave us a comment explaining why you feel that way.
QUESTION:Was college worth the financial investment? Yes, I found a job in my field 36% Yes, I've been able to pay off my student loans 10% No, I don't have a job in my field 28% No, I'm drowning in student loans 26% Total votes: 204