MAINT STREET: ECMC Channels Corinthian as It Learns the Tricks of the For-Profit College Trade
Career College Central Summary:
Student loan servicer ECMC Group promised a new deal when it bought 56 of the 107 Corinthian College campuses for $24 million last month and said that it was looking to “help students” with this acquisition. But the reality that may surface later is that they will adopt some of the exploitive practices the Corinthian brand became known for. In fact, critics say they’ve already started, and want to include to include mandatory arbitration agreements in student enrollment documents. These agreements would prevent students from taking the college to court in the event of a dispute.
According to Public Citizen’s Website, “Arbitration clauses are achieving their intended purpose—undermining consumer protection, civil rights and other laws that level the playing field between big businesses and individuals. The individual is left with no choice but to waive these rights, because arbitration clauses are presented on a take it or leave it basis.”
In his December 19 letter to ECMC, Senator Dick Durbin (D-Ill.) called the adoption of arb agreements “alarmingly similar” to those used by the for-profit college industry to shield themselves from being held responsible for wrongdoing while preventing students from receiving relief.
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