Following an announcement that the for-profit University of Phoenix has agreed to forgive $141 million in loans of former students, Democratic presidential candidate Bernie Sanders responded on Thursday: “Good. Now $1,685,456,413,335 more to go.” While Sanders has proposed cancelling all outstanding college and university debt in the U.S. as part of his plan to help revitalize the U.S. economy and re-level the playing field for working-class and low-income Americans, the move by Phoenix (UPO) and its parent company, the Apollo Education Group, comes in the form of a settlement deal reached with the Federal Trade Commission (FTC) early this week and stems from charges of fraudulent and deceptive practices directed at students.
— source commondreams.org | Dec 12, 2019