DOE complies with order to forgive $150 million in loans for students of for-profit colleges – Bankrate.com

SAUL LOEB / Getty Images The Department of Education (DOE), complying with a federal judges ruling,announced a massive victory for students victimized by now-closed for-profit colleges: their loans will be canceled. Around 15,000 students will have an estimated $150 million in debt erased. The students granted forgiveness are those who were attended for-profit schools that…

Customers of payday lenders are ashamed, broken and suicidal, Senate inquiry told – The Australian Financial Review

“There are some people for whom payday lenders is appropriate,” Ms Guthrie said. However, very few FCA clients would enter into such arrangements after an initial consultation, it was heard. FCA counsellor Sandra Blake, who appeared alongside Ms Guthrie at the hearings, said she had not seen one instance where payday loans had been useful…