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Some of the students have taken legal action against the institutions that provided them with loans on the basis that they should not have issued the money without proof of a school’s status. Some of the loan issuers have acknowledged the problem, and have since changed policy to ensure that loans can only go to students at accredited schools.
The issue of accreditation won’t apply in Canada where schools offering diplomas and degrees require government accreditation, and where loans are issued through banks that are sticklers for paperwork.
But there’s still the issue of thousands of unemployed IT school graduates with student loans to pay off and little hope for full-time employment – at the same time that schools, legitimate as they may be, are actively encouraging more participation in IT courses.
Although most of the blame should belong to the students for not doing enough research, it’s a shame that education should operate the same way as commerce – let the buyer beware.