Harkin, Colleagues Say For-Profit Colleges Squander Billions and Destroy Dreams

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Old 06 June 2013   #1
Harkin, Colleagues Say For-Profit Colleges Squander Billions and Destroy Dreams

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At a Capitol Hill press conference today, Senator Tom Harkin (D-IA) released a blockbuster four-volume report based on his two-year investigation of the for-profit college industry.

I've already discussed the findings of the report, which details how many of the big for-profit schools engage in fraudulent conduct, offer high-priced, low-quality programs, and leave many students deep in debt.

Harkin today said "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.""

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Old 06 June 2013   #2
Would forcing colleges to be non-profit even work?

It seems to me there is just a radical lack of accountability for the value of knowledge. Which the only solution to this that I can see is that the universities need to lend money to the students themselves.
 
Old 06 June 2013   #3
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