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MBA Express

Sep 17, 2014

This Week's Top Story

This Week's Top Story - Regulators Sue Corinthian Colleges for Allegedly Harassing Low-Income Students

Regulators Sue Corinthian Colleges for Allegedly Harassing Low-Income Students

The Consumer Financial Protection Bureau is suing Corinthian, a for-profit college operator, alleging abusive debt collection and deception

More Top Stories

HBS Alums Say They Worry About Poverty, Then Create Apps for the Rich

Innovations aimed at catering to rich people's pet peeves suggest some HBS alums are out of touch with the general population

Stressed-Out MBAs Turn to Meditation as a Career Aid

Business students at New York University debate whether deep breaths and mantras will help lessen their stress

Syracuse University Turns to Harry Potter to Motivate Business Students

The Whitman School of Management will assign undergrads to "houses" and they'll compete for points

A Girls' Night Out, a Conference for Black MBAs, and More B-School Events This Week

Here are the week's events around the business school circuit

Procrastination Is Bad for Your Grades

Procrastinating makes you sick, stressed, and generally unhappy. Stop doing it today, not tomorrow

Why Corporate Boards Are So White and Male, in One Chart

Directors on corporate boards don't much care about diversity in corporate governance, according to a PricewaterhouseCoopers survey

Five Things Developers Wish Their Nontech Colleagues Knew

Every business is dealing with rapid change brought on by technology, yet most executives are technically illiterate

Student Debt Collections Are Leaving the Elderly in Poverty

Elderly Americans hold more student loan debt than in the past and are more likely than younger borrowers to become chronically unable to make payments

Grades Don't Matter Much if You're Using Your MBA to Advance Neurosurgery

Research universities with B-schools can be a good place to find technology to launch new companies

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This week in MBA Express

The Consumer Financial Protection Bureau is suing Corinthian Colleges, one of the largest operators of for-profit colleges in the U.S., claiming that it deceived students and harassed them to collect on student loan debts.

The CFPB alleges that the school used false promises of employment prospects to lure students, induced them to take out predatory loans, and publicly humiliated them when they couldn’t pay.

According to internal documents obtained by the government agency, Corinthian Colleges targeted students with “’low self-esteem’ who had ‘[f]ew people in their lives who care about them’ and who are ‘isolated,’ ‘stuck, unable to see and plan well for future’” according to internal company documents obtained by CFPB.

“Corinthian has turned the American dream of higher education into an ongoing nightmare of debt and despair,” said CFPB Director Richard Cordray in a statement.

A Corinthian spokesman said in a statement that the company strongly disputed the CFPB’s allegations.

Also this week: Stressed-out MBAs turn to meditation; HBS alums say they worry about poverty but create apps for the wealth; and Syracuse University channels Harry Potter to motivate business students.


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