Shame: Wall St Journal Compares Rule for Predatory Colleges to Obamacare
I thought it was a matter of time before defenders of America’s predatory for-profit colleges tried to equate President Obama’s effort to regulate those schools with Obamacare. In seeking to block Obama’s “gainful employment” rule, which would penalize career colleges that consistently leave their students worse off than they started, the industry’s arguments have
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Regulating For-Profit Colleges: On To The Next Round
This morning, the Obama Administration released its new proposed “gainful employment” rule, aimed at ending taxpayer support for college programs that claim to train people for careers as medical assistants, air conditioner repair technicians, or software coders, but instead consistently leave their former students with shaky job prospects and insurmountable debt. Most of the big
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Former Washington Post Co. Still Owns Stake in Embattled For-Profit Corinthian Colleges
Graham Holdings Co., the renamed corporation that owned the Washington Post newspaper before selling it to Jeff Bezos last year, retains a major stake in Corinthian Colleges, a for-profit education company that is under investigation by a range of federal and state law enforcement agencies. According to an SEC filing today, Graham Holdings has sold about
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Bob Kerrey To Keynote Meeting of For-Profit Colleges Charged With Abusing Vets
Former U.S. senator Bob Kerrey (D-Nebraska) will give keynote remarks at this spring’s annual convention of the for-profit college trade association, APSCU, in Las Vegas. It’s not really a surprise, since Kerrey recently co-authored a Wall Street Journal op-ed arguing against new federal rules to hold the troubled for-profit college industry accountable. But it’s a shame.
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For-Profit College Execs To Get Lobbying Tips From Former Tobacco Official
It’s become increasingly clear from law enforcement, congressional, and media investigations that many for-profit colleges are selling a product that can be toxic to students — high-priced, low-quality programs that often leave graduates and dropouts alike without improved career prospects and paralyzed by student loan debt, often $100,000 or more. So when the for-profit college
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BREAKING: Federal Consumer Agency Sues For-Profit College ITT Tech
The federal Consumer Financial Protection Bureau this morning filed a civil lawsuit against for-profit college company ITT Educational Services, seeking restitution to students allegedly harmed by ITT’s private loan programs, a civil fine, and an injunction against the company. The CFPB filed its complaint in federal court in Indianapolis, near ITT’s headquarters. UPDATE [1:15 pm]:
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NY Times Columnist Spun By For-Profit College Misinformation
New York Times economic columnist Eduardo Porter has a piece this morning seeking to raise doubts about the Obama Administration’s proposed “gainful employment” rule. The rule would, eventually, take away eligibility for federal student aid from career training programs that consistently leave their students with overwhelming debt. While Porter does quote some proponents of the
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WOW: You Won’t Believe What This For-Profit College Lobbyist Just Said (and Did)!
Steve Gunderson, the former congressman (R-WI) who heads APSCU, the lobbying group for America’s for-profit colleges, seems to be getting desperate. The industry he represents is seeking once again to block the Obama Administration from issuing a “gainful employment” rule that would, eventually, cut off federal student aid to career training schools that consistently leave
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