The University of Phoenix and its parent company have agreed to pay $50 million in cash and cancel $141 million in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission. The deal, announced Tuesday, settles a dispute over an ad campaign the for-profit college unrolled in 2012 touting partnerships with companies including Microsoft, Twitter and Adobe. It suggested the school worked with those companies to create job opportunities for students, even though there was no such agreement, investigators found. The Federal Trade Commission said the settlement is the largest the agency has ever obtained against a for-profit college. University of Phoenix advert suggested the school worked with big companies to create job opportunities for students, even though there was no such agreement. In one TV ad (pictured) that aired in 2012, a frustrated driver weaves through a crowded parking lot looking for a space. 'Students making important … [Read more...] about University of Phoenix agrees to cancel $141million of student debt and pay $50million settlement over false ads that claimed they worked with Microsoft, Twitter and Adobe to create job opportunities
Debt agreements good or bad
Massive public debt: bad. Massive private debt: excellent. Gordon Brown's bubble: economic ruin. George Osborne's potential bubble: economic salvation. Benefits for non-home-owners: unaffordable. Cash bungs for property buyers: essential. Recite this catechism often and loudly, and over time you too will appreciate the wisdom of the coalition's economic policy. The consensus over Wednesday's budget was that it was a do-nothing affair, a feeble huddle of small measures washed away in a sea of red ink and broken targets. In terms of central government giving and taking – the traditional stuff of Red Books – it was as small beer as that penny off a pint indicates. But stack up the announcements that don't touch the public balance sheets and the chancellor was strikingly radical. Because it turns out that Osborne does believe in that apparent epitome of economic loucheness, borrowing to invest. He just wants you and me to do it, using our own wee savings. Sure, No 11 … [Read more...] about George Osborne is using Britons as economic cannon fodder
The Conservative slogan "Get Brexit done" suggests a quick and easy path to leaving the European Union (EU), allowing the UK to focus on other things apart from Brexit. But it's not that simple.We know the Brexit deadline has been delayed again - this time until 31 January 2020.If the Conservatives win a clear majority in this election, Brexit day could be earlier than that, otherwise it could be delayed again.Either way, though, it won't be the end of the matter. Boris Johnson wants it to happen as soon as possible."It is fair to say you're getting Brexit done because you are coming out of the EU and you're coming out of the legal order of the EU," the prime minister told the BBC."You are really taking back control of all the things - money, border, rules - you are doing all that."But while the day of Brexit would certainly be a big symbolic moment (loved and hated in equal measure), it would also leave an enormous amount unresolved.That's because Brexit is not really a single event - … [Read more...] about General Election 2019: What does ‘Get Brexit done’ mean?
The chancellor, Philip Hammond, is Theresa May’s chauffeur. It must be a ghastly job. He has to drive the economy towards Brexit, with no instructions, no map and no clear road ahead. Meanwhile, he has three blind mice in the back seat: David Davis, minister for I-haven’t-a-clue, Liam Fox, minister for what-on-earth-is-happening, and Boris Johnson, minister for Oh-Christ! All Hammond’s polished autumn statement could do yesterday was toy with the one buzz-phrase in May’s vocabulary of spin. It was caring for the “just about managing” – a perfect description of the chancellor. His time in office seems doomed to depend on Brexit and uncertainty. May’s government looks ever more like a caretaker administration, holding the fort until the coming of a new dawn, yet with no idea of what or when that dawn might be. The prime minister’s decision to put her three Brexiteers into key negotiating posts in the cabinet seemed tactically cunning. … [Read more...] about Hammond knows Britain’s regional imbalance is risky. Why didn’t he fix it?
If 10-year-old Rose Melville could say one thing to Boris Johnson it would be: “It hurts when people at school laugh at me and say I’m poor – do you care?” Rose is the youngest of her mum Kerry’s six children. When her big sister Sarah was given 10 weeks to live in 2018, their mum was unable to work as a carer – a job she had had for 26 years and felt born to do. She fell behind with her bills. Sarah, who had lost three limbs to meningitis , battled lung cancer while fund-raising for her own funeral. But when she died, in May last year, the family was still entrenched in debt. Rose says: “My sister Sarah tried to pay for her own funeral before she died because she didn’t want Mum to worry. “I’m glad she doesn’t know we still have a big bill so we’re struggling. We visit her grave every two weeks with flowers we’ve picked because we want to make her life in heaven happier.” Rose’s family’s … [Read more...] about Girl, 10, asks Boris Johnson if he cares that kids laugh at her for being poor