francoHFW
Diamond Member
Those scam colleges are ANOTHER GOP scam from W. The GOP changed laws to make it possible for their pals to screw over returning GIs. See 60 Minutes report. ANOTHER GOP disgrace.The Obama administration has released a final version of regulations targeting for-profit colleges that is significantly weaker than the initial rules proposed earlier this year, caving to complaints and legal threats from industry lobbyists. The regulations could still shut down 1,400 programs at for-profit colleges, which collectively enroll about 840,000 students.Maybe the GOP should stop blocking training for tech jobs then...stupid a-holes...
The administration has made reining in the for-profit college industry a key component of its education agenda. For-profit college companies, like Apollo, which owns the University of Phoenix, and DeVry Education Group, receive billions of dollars of taxpayer money each year in the form of federal financial aid, drawing as much as 90% of their revenue from the federal government. Many of the biggest for-profits are mired in lawsuits from organizations like the Justice Department, the Consumer Financial Protection Bureau, and dozens of state attorneys general, which allege a raft of violations, from misleading enrollment claims to predatory lending schemes.
For-profit college students make up just 11% of the total higher education population, but take out a disproportionate percentage of federal loans, defaulting on them at high rates. Their earnings after graduating from programs targeted by the employment regulations, such as medical assisting and cosmetology, are relatively low, and students sometimes pay up to four times as much for their educations as they would have done at a community college.
Obama Administration Backs Down On For-Profit College Regulations