Political Quotes

“Madam President, I have come to the floor of the Senate many times over the last several years to discuss an aspect of higher education only few people even know exists. The so-called for-profit colleges. This disgraceful industry enrolls 8 percent of all postsecondary students in America--8 percent--and yet accounts for 30 percent of all Federal student loan defaults. Those two numbers tell the story. For- profit colleges get 8 percent of the students and are responsible for 30 percent of the student loan defaults. Why? For obvious reasons. They are too expensive. They charge a higher tuition than community colleges or even many private colleges. Secondly, the students don't end up finishing because they get mired in debt. And third, if they end up with a degree, it turns out to be virtually worthless. When I think of cases that we have looked into in Illinois, in Chicago, of the exploitation of well-meaning students, sometimes the first in their families to go to college, who are lured in by the siren song of the marketing of for-profit colleges--they sign up, sign all the papers, turn over all their Pell grants, then sign up for Federal student loans and other private loans and have a disastrous experience where they can't even finish. They are so deeply in debt or, if they finish, they find their degree was worthless.…”