Attorney General Announces Loan Repayment Agreement With EDMC
As the result of a settlement between for-profit education company Education Management Corporation (EDMC) and a group of state attorneys general led by Iowa Attorney General Tom Miller, 600 Iowa students will have their loans forgiven. The approximately half-million dollar loan forgiveness will effect students in 39 states, and the District of Columbia, who attended such EDMC schools as Argosy University, The Art Institutes, South University, and Brown Mackie College, including Brown Mackie College—Quad Cities in Bettendorf either on-campus or online.
EDMC, per the agreement, will reform its recruiting and enrollment practices and add disclosures to students, including a new interactive online financial disclosure tool. The agreement, filed in Polk County District Court, also bars misrepresentations to prospective students, prohibits enrollment in unaccredited programs, and institutes an extended period when new students can withdraw with no financial obligation.
For more information on this agreement, please visit the Iowa Attorney General's website.