Post by Jaga on Sept 13, 2017 23:08:40 GMT -7
This is a part of this administration, I worry, since they are so pro-business that it is almost scary, especially that I don't want federal government to help these colleges to get big bonuses to their administration.
www.politico.com/story/2017/08/31/devos-trump-forprofit-college-education-242193
Trump and DeVos fuel a for-profit college comeback
More than seven months into the Trump administration, DeVos has:
• Moved to gut two major Obama-era regulations reviled by the industry that would have cut off funding to low-performing programs and made it easier for defrauded students to wipe out their loans;
• Appointed a former for-profit college official, Julian Schmoke Jr., to lead the team charged with policing fraud in higher education — one of a slew of industry insiders installed in key positions. Schmoke is a former dean at DeVry University, whose parent company agreed last year to pay $100 million to resolve allegations the company misled students about their job and salary prospects;
• Stopped approving new student-fraud claims brought against for-profit schools. The Education Department has a backlog of more than 65,000 applications from students seeking to have their loans forgiven on the grounds they were defrauded, some of which date to the previous administration.
“The for-profit college industry appears to have gotten everything they lobbied for and more,” said Pauline Abernathy, executive vice president of the Institute for College Access and Success, which has long advocated for stronger consumer protections and tougher regulation of the schools.
For-profit colleges, which enrolled nearly 2.5 million students in the past academic year, encompass multistate behemoths such as the University of Phoenix and DeVry, as well as hundreds of small trade schools that struggle to make ends meet. Since a Great Recession boom, the industry has been dogged by allegations of predatory sales techniques and poor outcomes that left tens of thousands of students drowning in debt while the schools raked in billions from federal student loans and grants. President Barack Obama sought to curb those abuses with a regulatory crackdown that the industry blamed for pushing two of its giants, Corinthian Colleges and ITT Tech, into bankruptcy, while others saw their stock prices nosedive and enrollment plummet.
www.politico.com/story/2017/08/31/devos-trump-forprofit-college-education-242193
Trump and DeVos fuel a for-profit college comeback
More than seven months into the Trump administration, DeVos has:
• Moved to gut two major Obama-era regulations reviled by the industry that would have cut off funding to low-performing programs and made it easier for defrauded students to wipe out their loans;
• Appointed a former for-profit college official, Julian Schmoke Jr., to lead the team charged with policing fraud in higher education — one of a slew of industry insiders installed in key positions. Schmoke is a former dean at DeVry University, whose parent company agreed last year to pay $100 million to resolve allegations the company misled students about their job and salary prospects;
• Stopped approving new student-fraud claims brought against for-profit schools. The Education Department has a backlog of more than 65,000 applications from students seeking to have their loans forgiven on the grounds they were defrauded, some of which date to the previous administration.
“The for-profit college industry appears to have gotten everything they lobbied for and more,” said Pauline Abernathy, executive vice president of the Institute for College Access and Success, which has long advocated for stronger consumer protections and tougher regulation of the schools.
For-profit colleges, which enrolled nearly 2.5 million students in the past academic year, encompass multistate behemoths such as the University of Phoenix and DeVry, as well as hundreds of small trade schools that struggle to make ends meet. Since a Great Recession boom, the industry has been dogged by allegations of predatory sales techniques and poor outcomes that left tens of thousands of students drowning in debt while the schools raked in billions from federal student loans and grants. President Barack Obama sought to curb those abuses with a regulatory crackdown that the industry blamed for pushing two of its giants, Corinthian Colleges and ITT Tech, into bankruptcy, while others saw their stock prices nosedive and enrollment plummet.