The reason why military members are attractive to for-profit colleges is because their benefits don't count toward the proprietary colleges' cap on federal Department of Education funding. The law says for-profit colleges must get 10 percent of their funding from other sources besides federal student loans or Pell Grants, but with the GI Bill loophole, they can secure 100 percent of their funding from the federal government. And, for every veteran they sign up, they can recruit nine more equivalent students who have federal student loans or grants.
6 replies (most recent on top)
Awesome! I like the school and my teachers its a different for profit owner. I know I will get a good job as its in the medical field and I have to pass the national test and get Licensed. BUT I feel I am being used! to hurt other people and they only wanted me because I had a $ sign on my head, not for my service. I will go to my grave fighting for that bill to get passed, if the school goes out of business then so be it. If the school is good then they will get paying customers, if not they will fold and should fold.
A bill was introduced in Congress last week that would change 90/10 to 85/15 AND that would count any federal money from any source in the 85%.
Proud of the vets in my classes! Great students and great people.
We are better students because military schools are hard! People die if you don't learn your trade and do your job. Think of it like that, college is a walk in the park to us!
They are also attractive because they don't think twice about the cost. Sit a vet in front of me and I've got an enrollment and someone who 9/10 times will be a better student.
The 90/10 Rule read up on it.