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Trade schools have to find grads jobs, or lose financial aid

WASHINGTON- Exotic dancers hired as admissions counselors. Recruiters told to seek out "impatient" individuals who have "few people in their lives who care about them." It's a modest step, consumer advocates say, that will probably succeed in shutting down the most obviously fraudulent programs, often criminal justice and medical training programs that can cost...
Source: The Associated Press | By: By ANNE FLAHERTY, Associated Press
Government names special master for Corinthian student debt

WASHINGTON- The Education Department appointed a special monitor Thursday to help develop a debt relief program for students who attended the now-defunct Corinthian Colleges- a debt forgiveness plan that could cost billions of dollars. Ted Mitchell, the undersecretary at the department, named Joseph A. Smith as the monitor, calling him "a distinguished...
Source: The Associated Press | By: By JENNIFER C. KERR, Associated Press
A big, dark Chicago room will get a view when it goes on the market

CHICAGO, June 24- FOR LET: 36,000 square-foot cave in central Chicago. When CME Group Inc's futures pits in the cavernous trading floor at the Chicago Board of Trade building fall quiet next month, real estate broker Holly Duran will be working overtime to find a tenant to occupy a storied piece of America's financial history. Prospective candidates could...
Source: Reuters | By: Fiona Ortiz
Federal court upholds rules aimed at for-profit industry

In an opinion released Tuesday, the U.S. District Court for the District of Columbia ruled the Education Department has the right to demand that schools show their graduates make enough money to repay their student loans. The Education Department announced its plan last fall as a way of weeding out fraudulent colleges that were targeting low-income students...
Source: The Associated Press | By: By ANNE FLAHERTY, Associated Press
COLUMN-Defaulting on federal student loans is stupid, not brave

That message easily could get lost in the controversy following a recent New York Times opinion piece, "Why I Defaulted on My Student Loans," in which writer Lee Siegel not only defended his decision to ignore his education debt, but urged others to join him as a way of changing the economics of paying for college. We now have some indication that debt strikes may work:...
Source: Reuters | By: Liz Weston
Cramer's Mad Dash: Problem with Hershey  

Jim Cramer explains what to watch ahead of the open, including Hershey lowering its outlook for China.
Source: CNBC.com
Corinthian Colleges exec grilled as creditors hunt for cash

WILMINGTON, Del., June 12- A top executive of bankrupt Corinthian Colleges Inc on Friday detailed the for-profit higher education company's executive pay and recent financial dealings, as creditors began the hunt to find money to repay what they are owed. Corinthian Chief Financial Officer Robert Owen spent four hours in a windowless government conference...
Source: Reuters | By: Tom Hals
U.S. to wipe out more Corinthian Colleges student debt

WASHINGTON, June 8- The U.S. Department of Education said on Monday it was moving to forgive much of the federal student debt of some of the 78,000 students who had attended the now-bankrupt Corinthian Colleges. Santa Ana, California- based Corinthian, which had operated the Heald College, Everest and WyoTech schools and offered degrees in healthcare and trades,...
Source: Reuters