Hi, Hope you are doing well!

Maybe, Predatory Students are those who have been cheated by the corrupt education system. Although there's no academic definition on the internet, in fact its not even defined in the popular platform for unacademic words i.e. urban dictionary. I understood this term from this following project that has been initiated by the Legal Services Centre of Harvard Law School.

The Project on Predatory Student Lending is the leading legal organization representing students against the predatory for-profit college industry and the government policies that enable the industry to exploit the promise of higher education to cheat student borrowers and taxpayers. It has been helping students fight for justice since 2012. The Project represents hundreds of thousands of former students across the country and has won landmark cases to protect borrower rights, recover money owed, and cancel fraudulent debt. Its ongoing cases hold predatory colleges accountable and force the Department of Education to act on behalf of students and stop protecting this insidious industry.

There's another term similar to this whole concept i.e. Predatory lending. I guess this would help you understand better.

Predatory lending is the unfair, deceptive, or fraudulent practices of some lenders during the loan origination process. While there are no legal definitions in the United States for predatory lending, an audit report on predatory lending from the office of inspector general of the FDIC broadly defines predatory lending as 'imposing unfair and abusive loan terms on borrowers'.