In September 2016, the CFPB fined Bridgepoint Education Inc. $13 million for “misleading students about the real cost” of their student loans, and ordered the Bridgepoint to forgive the debt for “more than 1,200 for-profit college students.” The CFPB was not the first government actor to fine Bridgepoint for their behavior, as Bridgepoint had to pay $7.25 million in 2014, after the Iowa Attorney General’s office alleged they had “misled students to get them to enroll in their classes.”

• On September 12, 2016, the CFPB fined Bridgepoint Education Inc. $13 million as Bridgepoint agreed to forgive $18.5 million in outstanding student debt. [CNN Wire, “For-profit college ordered to refund student loans”, Fox 43, 09/12/16]

• “More than 1,200 for-profit college students will be getting a refund for their private student loan payments, and their remaining debts will be canceled. Bridgepoint Education, which operates Ashford University and University of the Rockies, is in trouble for allegedly misleading students about the real cost of the loans.” [CNN Wire, “For-profit college ordered to refund student loans”, Fox 43, 09/12/16]

• In 2014, Bridgepoint paid $7.25 million “to settle allegations from the Iowa attorney general’s office that they misled students to get them to enroll in their classes.” [Aruna Viswanatha, “For-Profit College Company to Refund Students $23.5 Million in CFPB Settlement”, The Wall Street Journal, 09/12/16]