Everest College Accused of Predatory Lending Practices

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Call us at (844) 236-3332 for more information.

The attorney general of California filed a lawsuit accusing Everest College, a subsidiary of Corinthian College of misrepresenting job placement rates, false advertising, and other deceptive practices to lure low-income residents to take out student loans to attend its schools. The attorney general said the majority of the students lured into this financial trap were minority students in their mid-20s with annual incomes of about $20,000, and many of them single mothers. Attorney General Harris said that Everest devised a predatory scheme that is unconscionable

Corinthian Colleges, Inc owns Everest College and is in the process of being shut down due to predatory lending practices.

Along with targeting the minority population, Everest and its partners illegally used official U.S. military seals in its advertisements to attract veterans. Everest, a for-profit college, is owned by Corinthian College. In 2007, Corinthian paid $6.5 million to settle a similar lawsuit filed by then Attorney General Jerry Brown.

Everest is accused of falsely advertising up to 100 percent job placement rates in some of its programs and embellished such rates in other programs. These for-profit colleges put profit ahead of student achievement and also have much higher marketing budgets and much lower graduation rates that not-for-profit private and public universities.

Many graduates find that their degrees do not assist them in gaining employment, leaving them drowning in student debts. Luckily, there is hope. If you attended Everest, Corinthian, Heald or WyoTech, you may qualify for full or partial loan forgiveness under a recent government bailout program. If you feel you were the victim of any of these schools’ predatory lending practices, give us a call at (844) 236-3332 or click the link below to get qualified and one of our student advocates will give you a call with more information.

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Shutting Down

Everest College is being forced to shut down several campuses due to their predatory lending practices. If you were attending Everest College at a campus that was shut down or you are currently enrolled in a campus that will be shut down during your program, you need to act now. Students are obliged to pay off student loans to a closed school unless they were attending class within 120 days of the school’s closing. If this applies to you, give us a call at (844) 236-3332 as soon as possible so you do not miss this window of full forgiveness.

How can CLASS Financial help?

We are committed to assisting students and parents obtain financial freedom from federal student debt overload. With over 1.2 trillion dollars in total outstanding student loan debt, and 85 billion dollars of that debt being delinquent, some 40 million Americans are struggling to manage their lives after attending school. Often times, minimal credit criteria and lax qualification guidelines were required to obtain these loans. These high interest rates and payments have forced borrowers to commit to terms that would ultimately be nearly impossible to pay back. It seems the student loan lending practices and the ethics behind them were never about education itself, but more about the financial incentive from issuing these educational loans. While many have fulfilled their dream of obtaining a college education, the fact remains that the cost of this dream has had some serious repercussions.

At CLASS Financial, we combine 30 years of experience and knowledge in student and consumer lending credit markets. Our strategic approach, sincere and dedicated staff, and pledge for effectiveness has made us a leader in the industry, helping thousands achieve financial relief.

There are many ways to relieve the burden of student loan debt, and in some cases this debt can be forgiven completely. Our specialists are available to help you navigate through all of your options and find the right tailor-made program fit for YOU! We offer a FREE and comprehensive, NO OBLIGATION consultation. Call us today at (844) 236-3332 and pave the way to a debt free future.

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