For years, for-profit “colleges” have been criticized for false promises and preying on veterans, low-income students, and students of color. Congressional efforts to rein them in have been stymied by their high-priced lobbyists from both parties. They pay protection money and continue to fleece their students, many of whom Re saddled with debt and no education or job prospects.
Corinthian Colleges was one of the biggest and worst. It recently collapsed in bankruptcy, despite the US Department of Education’s bailout.
Thousands of students were left holding the bag, and they are threatening not to repay their student loans for a worthless education.
Bottom line: For-profit colleges should be prohibited or closely regulated. Instead they ate left free to rip off unausoecting students and to continue their predatory practices.
Don’t expect any change during the remaining days of this administration. Undersecretary of Education Ted Mitchell is in charge if this issue…
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