Anonymous39250 Saturday 09/20/14 23:42:02 UTC
Lying Troll. ECMC is only handling student loan debt collection starting January 2015 when the Dept. of Ed. takes over the teach-out from Corinthian. They're visiting campuses to become familiar with the systems because they're going to assist in the teach-out. The whole reason the DoE is doing all of this is to close the Everest and Wyotech brands. Forever. Sorry if that is too depressing for some people to deal with but that is the reality.
Seeing as all relevant scenarios are merely conjecture, I am forced to say they are all equally likely until evidence is presented.
"Let's just assume CCi will need assistance during the teach-out." Really?? CCi won't have anything to do with the teach-out. After December, CCi is done. They won't be teaching out anything.
You think the netter option that DOE, up against criminal charges and the accreditation, which JUST put us on warning is going to approve a loan debt collection service to,OPEN a college? That's the crazy rumor. It'll never happen. This role seems more realistic.
Don't get snippy, I'm just pointing out that there is more to a teach out than contacting student borrowers. And for that matter, a simple list borrowers and their grad dates/DODs would suffice & not require contracting an outside company's services. Do you have a source for your information?
So it doesn't make sense for a loan servicer to assist in the teach-out (which a big part of ending a college is the management of the subsequent debt) but it makes sense that they will be approved to buy the campuses and start teaching college courses? Yeah, that makes sense.
Let's just assume that you are correct in that CCi will need assistance during the tech out. Why hire a loan servicer to do it?
Obviously, ECMC is going to get paid to assist with the teach-out. You don't seriously think the Dept. of Ed. is going to handle the teach-out all on their own, do you? They certainly aren't going to let Corinthian handle the teach-out. Please, they aren't stupid.
What would a loan servicer possibly have to gain from assisting with a teach out?
Jive turkey!