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Danielle Park--School Scams #3757

  • Broadcast in Finance
Financial Survival Network

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John Grisham's new book goes after the fraudulent for-profit law school industry. That's right, it's based upon a true story/scam. But what enables these private pirates to pull these scams off and ruin people's lives in the process? Simple, unlimited government issued student loans. In the case of for-profit law schools, they take students that no self-respecting law school would admit. They run up the student loans to $200k and then the students must pass the bar exam (less than half do) and get a job that pays enough to start paying down student loans. And this is legal? More like legal theft.