In 2016, for-profit college ITT Technical Institute collapsed, leaving thousands of hardworking students stuck with mountains of student loan debt and no degree to show for it. Yet recently, institutions like DeVry Education Group have seen the value of their stocks skyrocket.
That’s because billionaire heiress Betsy Devos is the new head of the US Department of Education. She’s also an investor and champion of for-profit colleges.
Under the guise of career advancement; for-profit colleges have targeted minorities, low-income people, and even veterans. Desperate to earn a better salary, these groups often find themselves saddled with unmanageable debt, and many don’t make it to graduation.Sign the petition and demand that Congress continue strict regulation of for-profit colleges. Don’t allow these institutions to rob students.
While these institutions historically evaded regulation--under President Barack Obama the United States Department of Education applied a “gainful employment” rule to 800 failing schools. The rule made a vocational school’s access to federal funding contingent on the institution’s record of alumni earnings and job placement. Ninety-eight percent of the programs targeted were for-profit colleges. As a result, hundreds of campus who made millions defrauding students—found themselves closed. Now, under a new administration with Betsy DeVos at the helm, these fraudulent companies are breathing a sigh of relief. We can help hold them accountable.
Sign the petition and challenge Congress to force for-profit colleges to deliver on their promises to millions of students. Continue strict regulation of for-profit schools.
More information
The New York Times. 20 February 2017.