Senator Targets For-Profit Colleges’ Reliance on Federal Money and Aggressive Recruiting of Veterans

U.S. Senator Richard Durbin will introduce a bill on Monday to clamp down on for-profit colleges’ heavy dependence on federal funds and curtail what he called “the powerful incentive” the colleges now have to aggressively recruit military students and veterans.

In the partisan climate of Congress, the bill, aimed at a federal regulation known as the 90/10 rule, has slim chance of passage, but it highlights the stakes. If enacted today, the measure would probably bar the University of Phoenix and many other institutions, including colleges owned by Corinthian Colleges Inc., Bridgepoint Education, and at least six other giant college companies, from participating in the federal student-aid programs that are their lifeblood.  For more information please click here.