President Obama Calls on Congress to Take Action on Durbin Legislation to Protect Veterans from For-Profit Schools
Bill would eliminate powerful incentive for for-profit schools to aggressively recruit veterans and ensure schools are complying with the law as intended
[WASHINGTON, D.C.] – Following an announcement of new measures to make certain that veterans are receiving the education they deserve, U.S. Senator Dick Durbin (D-IL) applauded President Obama’s commitment to honoring the sacrifice and service of America’s veterans. Earlier today the President called on Congress to pass Durbin’s Protecting Our Students and Taxpayers (POST) Act which would prohibit for-profit colleges and universities from receiving more than 85% of their revenue from the federal government and change the calculation of federal revenue to include all federal funds.
In 2014, an estimated $2 billion in Department of Veterans Affairs (VA) GI Bill funding and $248 million in Department of Defense Tuition Assistance and MyCAA funding went unaccounted for in the federal revenue calculation for for-profit colleges and universities.
“I applaud President Obama for his commitment to improving the ability of the veterans to access the quality education they deserve,” said Durbin. “By closing the 90/10 loophole and increasing the amount of money a school must generate on its own in order to access federal funds, Congress can take away the powerful incentive that for-profit colleges and universities have to aggressively recruit veterans into programs that leave them without a degree and often crippling student loan debt. I call on my Republican colleagues to join us in this effort to put an end to this open invitation to exploit the men and women who have served this great nation.”
Senator Durbin’s legislation is cosponsored by U.S. Senators Jack Reed (D-RI), Richard Blumenthal (D-CT) and Elizabeth Warren (D-MA). Additional information about the bill can be found on Durbin’s WEBSITE.