Another large for-profit college has met its demise. Westwood College is closing. A couple months ago, Westwood announced it would no longer enroll new students, now it has announced its intention to shutdown this year in March, after the semester ends. Students currently attending have been told to select another school by the middle of February if they wish to continue their education with one of the schools with which Westwood has established partnerships.
Westwood College has been under federal scrutiny for years. In 2012, the college was forced to pay $4.5 million in a settlement with Colorado’s Attorney General after allegations that the school misrepresented job-placement rates, as well as providing students false information about wages they could expect, the ability to transfer Westwood credits to other colleges, and even the cost of attendance. In addition to the fine, another provision was established under the settlement to keep the school under observation for three years. A similar lawsuit was filed by the FTC Wednesday on DeVry University.
This is hardly unexpected news, after what we have all witnessed over the last year, from the collapse of Corinthian College, to the closure of Le Cordon Bleu, and lawsuits against countless other for-profit colleges. It is fantastic that the federal government is taking action against these predatory schools now, but where does that leave the victims of these institutions? In a great place, actually. Former students should rejoice that Westwood College is closing, as there are many loan forgiveness options now available. If you attended Westwood College at any time, and feel you were victimized by their deceit, call (800) 784-1755 to see if you’re eligible to have your student loans forgiven.