When a college education is cut short by a school closure or a school engages in fraud, the students and their families suffer long-term financial distress. Higher education fraud, when unaddressed, devastates families and their communities, disproportionately impacting low-income, people of color, and women, who start out economically disadvantaged. In recent years, several large for-profit…
Students at for-profit colleges are much less likely to graduate than those at public and non-profit schools; more likely than their peers at other schools to default on their loans; and more likely to have debt and higher amounts of it. It is therefore imperative that a strong gainful employment rule is issued and enforced.