The collapse of the Corinthian College chain has received a lot of attention for its deceitful practices. Yet, a close look at the for profit education industry reveals that a number of schools under investigation by the federal government, have been sued by multiple states. They have sky-high default rates on their student loans; nevertheless, they continue to receive federal student loan dollars.
ITT Tech, for example, has faced repeated investigations and lawsuits, and the Federal Trade Commission announced an investigation into the struggling, yet ubiquitous, University of Phoenix last summer. The Defense Department has blocked the University of Phoenix from getting funds from its tuition assistance program for active-duty service members and from recruiting on military bases.
There are over 500 schools on the Department of Education’s Heightened Cash Monitoring list, meaning they are under review for potential problems including accreditation issues or financial problems, and not all of them are for profits.
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ITT Tech, for example, has faced repeated investigations and lawsuits, and the Federal Trade Commission announced an investigation into the struggling, yet ubiquitous, University of Phoenix last summer. The Defense Department has blocked the University of Phoenix from getting funds from its tuition assistance program for active-duty service members and from recruiting on military bases.
There are over 500 schools on the Department of Education’s Heightened Cash Monitoring list, meaning they are under review for potential problems including accreditation issues or financial problems, and not all of them are for profits.
READ MORE
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