Hold For-Profit Colleges Accountable
98% of student loan fraud claims are linked to for-profit colleges, and over half of borrowers who attended for-profit colleges in 2003 defaulted on their loans after 12 years. For-profit schools have a well-known history of engaging in abusive practices, meaning oversight of these institutions is crucial.
Education Secretary Betsy DeVos has a record of exposing vulnerable students to fraud while defending the for-profit college industry–she’s made a point to roll back protections which protect students from abuse and fraud. So her recent decision to kill investigations into fraudulent activities at large for-profit colleges is a pretty on-brand move!
The team responsible for investigating fraud has been reassigned or instructed to “focus on other matters,” meaning accountability for for-profit institutions is basically gone. Given that about 4 in 10 young Americans have student loan debt, DeVos’ decision obviously seriously affects young people. The less scrutiny placed on predatory for-profits, the more vulnerable we are to abuse.
DeVos has recently decided to kill investigations into fraudulent activities at for-profit colleges, leaving young borrowers vulnerable to abuse. Tell your reps to oppose her decision and hold for-profit colleges accountable!