Former Everest College students meet with Durbin, Madigan

CHICAGO (WLS) -- There is some good news for students who attended a for-profit college that shut down.

Former Everest College students met with Sen. Dick Durbin, Illinois Attorney General Lisa Madigan and a representative from the U.S. Department of Education about their bad experiences and mounting student debt. The department is streamlining its process, making it easier for students seeking federal loan forgiveness.

Everest, a for-profit college, was owned by Corinthian College which collapsed last year.

"I went to private law offices and they would not recognize the degree, it was worthless," one former student said.

"When I took the exam it was completely foreign. Questions asked were nothing what we learned in school," another former student said.

"Fraud at the beginning, fraud in the middle and fraud and the end and the only thing these students are left with is $7,000 to $8,000 of debt to nearly 200,000 dollars of debt that is crippling you and the overall economy," Madigan said.

Durbin said for profit colleges are a big concern. Studies show 40 percent of student loan defaults come from for profit colleges.