Thursday, September 2, 2010

Private For-Profit Universities Lobbying Against Proposed Regulations

http://motherjones.com/politics/2010/09/edmc-dci-for-profit-college-lobby-duncan?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+motherjones%2Fmain+%28MotherJones.com+Main+Article+Feed%29

For-Profit education is a scam (see my previous post). The federal government wants to crack down on student lending that is federally guaranteed at for-profit universities.

The issue is this: for-profits charge high tuition and promise jobs that don't materialize so students are stuck with huge bills that the federal government underwrites.

for-profits have the right to charge whatever they choose. However, the federal government is not required to guarantee loans that it considers excessive.

So, the regulations will affect lending guarantees, not how the universities operate.

Now these for-profits are engaged in an all out assault against this proposed policy to limit loan guarantees so that students don't get stuck with excessive debt.

For profit education is a scam!!!!!!!!!!!!!!!!!!!!!!!!

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