Priceless Vol 9 Number 9
Personal and Professional Empowerment www.hamptonroadsmessenger.com
Serving Norfolk, Portsmouth, Chesapeake, Hampton, Newport News, Suffolk, and Virginia Beach since 2006
Local Women Selected as Business Challenge Winners
U.S. Dept. of Education Fines For-Profi t Colleges $30 Million
for Misrepresentation Action complements ongoing steps to protect students and consumers against predatory for-profi t colleges
Urban League of Hampton Roads' Whitney M. Young Dinner
Hampton Delta Foundation's Red and White Cotillion
Loretta Lynch Confi rmed as Attorney General
Free May 2015
of Education took additional steps recently students
and taxpayers and
crack down on abuses within the for-profi t sector by continuing its enforcement actions
against Corinthian Inc.
After a comprehensive review, the
U.S. Department of Education has confi rmed cases of misrepresentation placement
and prospective students in Corinthian's
rates to current Heald
system. The Department found 947 misstated placement rates and informed the company it is being fi ned about $30 million.
Specifi cally, inaccurate the
Department has determined that
Heald College's or incomplete
disclosures were misleading to students; that they overstated the employment prospects of
U.S. Department to protect
graduates of Heald's programs; and that current and prospective students of Heald could have relied upon that information as they were choosing whether to attend the school. Heald College provided the Department and its accreditors this inaccurate information as well.
The Department has also
notifi ed Corinthian it intends to deny Corinthian's pending applications participate
to continue in the Title
federal student aid programs at its Heald Salinas and Stockton locations. Corinthian has 14 days to respond to the Department's notice,
which the Department will issue its fi nal decision. Moreover, the Department
that Heald College is no longer allowed
has determined enroll
and must prepare to help its current students either complete their education or continue it elsewhere.
MISREPRESENTATION PAGE 11 THIS EDITION’S HIGHLIGHTS
Health Editorial Business
Share Your Light with a Graduate E-Cigarette Use Triples Among Middle and High School Students
Local Businesswomen Selected as Business Challenge Winners
Hampton Roads Upcoming Events Scholarships Watch
Gov. Announces $100 Million Investment in Newport News Virginia Symphony Orchestra Concert The Emerging Entrepreneurs Scholarship
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BY WASHINGTON INFORMER new attorney
Loretta Lynch won confi rmation as the general
months of delay that saw the process get hung up in partisan politics.
Lynch, who will be the fi rst black woman
to hold the top law enforcement post, replaces Eric H. Holder Jr. She cleared the Senate on a 56-43 vote, with only Republicans opposing.
Lynch, a 55-year-old Harvard Law School graduate from North Carolina, was a federal prosecutor in New York during the 1990s, notably during the Abner Louima police brutality case. President Obama picked her in November to replace Holder, but her nomination hung in limbo for months as several Republicans warily questioned how she'd differ from the polarizing Holder and whether she'd back the president's immigration
LORETTA LYNCH PAGE 4
Buying or Refi nancing a Home? Seven do-it-yourself tips for choosing and managing a mortgage
Do you have a mortgage loan or are you in the market for one? With new disclosures and other consumer protection rules, and fl uctuations in interest rates, it’s good to review some key strategies to keep costs down for your home loan.
largest and most complex fi nancial obligation you will ever
“Since a mortgage may be the enter
be sure to do your homework before and after you commit to a loan,” said Jonathan Miller, a Deputy Director in the FDIC’s Division of Depositor and Consumer Protection.
Here are tips on keeping borrowing costs low and thinking ahead about issues that might arise.
For Anyone Looking for a Mortgage Remember
that loan programs can
change and lenders’ policies may vary, so research new opportunities before applying for a mortgage. For example, more lenders are beginning to offer borrowers the chance
to obtain a mortgage with a smaller down payment. Why is that happening?
Fannie Mae and Freddie Mac will now buy mortgages from lenders that have down payments as low as 3 percent. This change could lead to more lenders lowering their down payment
requirements for borrowers. But
be careful. Making a smaller down payment BUYING OR REFINANCING PAGE 3
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