January 14, 2009
Lawsuit Accuses U. of Phoenix of Protecting Its Default Rate at Students' Expense
Three former students at the University of Phoenix are seeking class-action status for a federal lawsuit that accuses the giant for-profit institution of using improper tactics to minimize its "true" record on student-loan defaults.
According to the lawsuit, which was filed last month in the U.S. District Court in Little Rock, Ark., the university "effectively pays off" the loans of students who withdraw from the institution, then demands repayment from those students under
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