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A diploma mill, also sometimes referred to as a degree mill, is an organization that sells college diplomas and transcripts rather than offering a real education in exchange for tuition. Some diploma mills act as ?universities?, while others don't pose as schools, and simply create forgeries or ?novelty? diplomas.

How to Spot a Diploma Mill Degrees can be earned in a significantly shorter time than a traditional school. ... Tuition is calculated per degree. ... The diploma mill's name is similar to the name of a well-known accredited school. ... The degree awarded is based on criteria unrelated to academics.

If you default on your student loan, that status will be reported to national credit reporting agencies. This reporting may damage your credit rating and future borrowing ability. Also, the government can collect on your loans by taking funds from your wages, tax refunds, and other government payments.

Penn Foster High School is both regionally and nationally accredited, ensuring that the diploma you earn online is legitimate.

You can go back to school. Still, you should take stock of how much you owe. If you have a lot of debt, consider paying some of it down before you head back to school?too much existing debt could mean higher interest rates on a new loan. You also might not qualify for some federally subsidized loans.

Private Student Loan Statute Of Limitations Timelines StateStatute of LimitationsCalifornia4 yearsColorado6 yearsConnecticut6 yearsDeleware6 years47 more rows ?

Degrees Can Have Consequences Most employers and educational institutions consider it lying if you claim academic credentials that you didn't earn through actual course work. If you use a degree to apply for a job or promotion, you risk not getting hired, getting fired later on, and possible prosecution.

An unpaid tuition bill can also end up in collections. Your school may have its own collection department or it may sell unpaid tuition debt to a collection agency. If collections aren't resolved and the amount owed paid, your school may choose to take legal action.

If you missed tuition payments during the past semester, there could be serious consequences. Not only could a past due balance threaten your status at your school, but it could get sent to collections, hurting your credit as well.

Private student loans are ineligible for forgiveness programs, regardless of whether the loans are in collections.