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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THE PRESS ENTERPRISE