Political Quotes

“it has been nearly 4 years since the collapse of Corinthian Colleges and almost 2 years since the collapse of ITT Tech, two of the largest college collapses in U.S. history. These infamous companies left tens of thousands of students in the lurch, interrupting their education and leaving them with worthless credits and tons of debt. Rather than being anomalies, these companies embodied the for-profit college industry, an industry that enrolls only 9 percent of all postsecondary students but accounts for 33 percent of all Federal student loan defaults. The same predatory practices that took down Corinthian and ITT Tech are commonplace throughout the for-profit college industry, even today. So this notion that some would have you believe--that, with Corinthian and ITT Tech gone, this industry is magically cleaned up and purged of bad actors--is nothing more than an attempt by the industry to justify rolling back important consumer protections like the Gainful Employment and Borrower Defense rules. Case in point: Ashford University is owned by Bridgepoint Education. This is a company that, from its very inception, has shown a determination to work the system in order to profit. It all began in 2005, when a group of investors bought a tiny Catholic college in Iowa, which at the time had an enrollment of 312 students, but what came along with that small campus was the gold for Ashford: regional accreditation.…”