Pardon student loan debt for students that attended universities that closed due to lost accreditation.
Why is this important?
I attended a private university (AUI Los Angeles) and was not aware of the numerous accreditation issues and financial aid fraud claims against the university when I enrolled. The university lost accreditation and closed due to the multiple lawsuits filed against it and hundreds of students were not able to graduate, but still have hundreds of thousands of dollars in student loan debt. The university will not return the money to the lenders, and many former students have defaulted on their loans. I'd like to start a petition to help not only the people affected by particular university, but the thousands of others facing this same problem. Profit universities should be held accountable for their wrong doings, and student loan banks should accept responsibility as well. If schools are not accredited, on probation to lose accreditation, close due to losing accreditation or sued for financial aid fraud - banks shouldn't provide funds.
