by Lynn Sweet, Chicago Sun-Times
Assistant Senate Majority Leader Dick Durbin (D-IL) raised concerns today that the rapidly growing number of students enrolled in for-profit colleges coupled with a dramatic increase in federal student aid dollars flowing to these schools may create a national crisis in higher education. Durbin made his remarks today in speech before the National Press Club. “There is growing concern that we could be looking at a repeat of the subprime mortgage fiasco, with low-income, high-risk students mortgaging their futures – not on overpriced homes this time, but on worthless diplomas,” said Durbin. “Let me be clear: There are many good trade schools and for-profit colleges, and they serve a vital purpose, supplying job training that helps people take the next step up the economic ladder. But there are also a lot of bad for-profit schools that are raking in huge amounts of federal dollars while leaving students poorly trained and over their heads in debt.”
http://blogs.suntimes.com/sweet/2010/06/durbin_warns_of_for-profit_col.html
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