WEBVTT

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Relief for students. A for profit college accused of

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illegal behavior has settled with the FTC and will now

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cancel millions of dollars in student debt. According to

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a press release from the Federal trade Commission. Soler's

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College based in New Jersey was accused of falsely touting

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job placement rates. The college is also accused of

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deception, misrepresenting its relationship with prominent companies that it

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claimed would hire students after they graduated. Some of

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those companies like Well, Cornell Medicine have now sent

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the college a cease and desist letter for using its

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logo. The FTC says solars trapped students into illegal

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income share agreements in which students would pay a fixed

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percentage of their future income to repay tuition. Some

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of those students defaulted on those agreements and were sent

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to collection agencies. The college will now have to

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cancel$3.4 million in student debt. So far,

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no comment from the school.