PRESS ENTERPRISE: Congressman Mark Takano holds loan clinic, slams for-profit colleges

Career College Central Summary:

  • Congressman Mark Takano, D-Riverside, made it clear Saturday, May 30, that he has little love for for-profit colleges.
  • “We need to get Wall Street out of education,” Takano said referring to the large companies behind many for-profit colleges. “These institutions are just trying to better themselves. They spend more money on marketing than on educating students.”
  • According to an American Public Media report, the largest of for-profit colleges, University of Phoenix, spent $1 billion on marketing in 2011, 23 percent of its revenue.
  • Takano was speaking at a student loan clinic his office organized at Riverside City College. The clinic was primarily aimed at former students of Everest College.
  • Corinthian Colleges, which owned Everest College, closed all 11 of its California campuses in April. Three of those campuses were in the Inland Empire: two in Ontario and one in San Bernardino. Students, some of whom were on the verge of completing months-long or years-long programs, were left hanging.
  • Saturday’s clinic was designed to provide them with information on what parts of their student loans they would be responsible for repaying and what portions might qualify to be discharged.
  • “You’ve all been taken advantage of by a for-profit college,” Takano said. “We need to make sure future students are not taken advantage of.”
  • Takano recently introduced legislation to address the issue. His PRO Students Act is designed to protect students from predatory and fraudulent practices by for-profit colleges.

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