ICYMI: Durbin Challenges For-Profit Colleges to Explain Why They Account for 40% of Student Loan Defaults by Only Educate 10% of Students
Durbin was also critical of Republican attempts to shield for-profit colleges from the Education Department’s Gainful Employment Rule
[WASHINGTON, D.C.] – In a speech on the Senate floor today, U.S. Senator Dick Durbin (D-IL) challenged the for-profit college industry to explain how they can account for 40% of student loan defaults but only educate 10% of students and only 20% of federal student aid.
“The Department of Education has developed responsible criteria for determining whether career education programs adequately prepare their students for “gainful employment” as is required by law. The Gainful Employment Rule ensures that students who graduate from a covered program of study are able to get a job that allows them to manage the student debt they take on in the process,” said Durbin. “How can Republicans in Congress block implementation of this commonsense rule in the wake of what we’ve just seen with Corinthian?”
Click on the video below to watch Senator Durbin’s speech in full on his YouTube page.