Aug 1, 2012

For-Profit Colleges Squander Billions and Destroy Dreams

This is an addition to an earlier vltp.net post entitled For-Profit College Scams, which included a number of articles about the waste generated in this unregulated industry.

“the bottom line” is that the $32 billion that taxpayers provide each year to the for-profit college industry is “squandered.” Representative Elijah Cummings (D-MD) also stressed that enormous $32 billion figure (one quarter of all federal financial aid, and actually more like $33-34 billion when you add in additional benefits for U.S. troops and veterans) and said that when it comes to students attending these schools, “dreams are being destroyed.” Amy Wilkins of the non-profit Education Trust called the practices of this industry “horrendous.”  Senator Richard Blumenthal (D-CT) said that what is needed to deal with the abuses is “sweeping reform that is incorporated into law…. The time for legislation is now.”

To read this entire article by David Halperin, please click
here