Posts Tagged: Department of Education

To Forgive is Divine But Impossible

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

A program intended to wipe away the student loans of qualifying public servants has rejected more than 99 percent of those who applied, according to a government audit that found that “fragmented” management and “piecemeal” operating instructions had contributed to the failure to forgive more debt. Questions: 1. What does the Education Department say is… Read more »

Program at a Standstill!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to Mother Jones, in 10 months, the Trump administration has yet to approve a single claim to help defrauded students of such for-profit colleges as Corinthian or ITT. Questions: 1. Who is now calling on the Department of Education to resume helping students who borrowed loans from the fraudulent for-profit colleges? 2. Approximately how… Read more »

The Bottom Line

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

More than 250,000 of Corinthian Colleges’ victims will be able to get out from under massive and fraudulent student loan debts, Education Secretary John King will announce Friday in Boston. Questions: 1. What is the big asterisk that the article refers to? 2. How many schools and how many states are involved in this scam?… Read more »

Bye, Bye to Tens of Thousands of Dollars of Debt for a Certificate

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting.

Despite intensive lobbying efforts and lawsuits by the Association of Proprietary Colleges (APC), a U.S. District federal judge denied a challenge to the Obama administration’s rules limiting the amount of debt students can carry in career-training programs. This decision delivers a blow to the deteriorating for-profit college industry. Questions: 1. What are the new rules… Read more »

Student Loan Forgiveness – To Forgive or not to Forgive, that is the Question!

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

It’s been over a month since fifteen former students of Corinthian Colleges said they would not pay a dime of their student loans because the school broke the law. The failing for-profit giant used deceptive marketing and lied to the government about its graduation rates. The Consumer Financial Protection Bureau invited a group of these… Read more »