Susan Davis: “ITT Tech, like other for- profit colleges before it, has misled students and mismanaged funds. Mr. Speaker, for-profit…”

“ITT Tech, like other for- profit colleges before it, has misled students and mismanaged funds. Mr. Speaker, for-profit schools are often where our most vulnerable students seek brighter futures, students going back to their education after years away, single parents and veterans, and students with limited means. These students frequently receive financial aid, and the school's recklessness can do irreparable damage to their ability to complete their degrees, and ruin their credit ratings. Over a quarter of all Department of Education student aid funds, a third of all post-9/11 GI benefits, and half of DOD tuition assistance funds go to for-profit colleges. Shouldn't we make sure these Federal funds are a worthwhile investment? We must remember that beyond the dollar amounts and industry regulations, there are students' lives at risk, and doing right by them protects their interests and our competitiveness in our global economy. ____________________”