For-profit school loans settlement

SAN FRANCISCO — The Ninth Circuit ruled that three for-profit universities may not intervene in light of a California federal court’s final approval of a class-action settlement between the Department of Education and more than 500,000 federal student loan borrowers. The universities that want to intervene lack prudential standing to challenge the settlement, which resolved the students’ complaint regarding the government’s backlog of hundreds of thousands of unprocessed applications for borrower defense relief.