For Profits Fighting Weakened Gainful Employment Rule—With Taxpayer Money
SOURCE: Things My Grandfather Taught Me
The Association of Private Sector Colleges and Universities, the most powerful lobbying coalition of for-profit colleges, was apparently not sated by the result of the “gainful employment” rule debate—the Obama Administration’s dramatically weakened rule, which would penalize only those career colleges that consistently left their students with horrific levels of debt.
Even though the announcement of the gutted rule sent for-profit education corporation stocks soaring, APSCU has now filed a federal lawsuit [PDF] seeking to block even this rule and restore a regime of zero accountability. APSCU also announced that it would appeal its trial court defeat in another federal case in which it seeks to block regulations barring deceptive recruiting practices.
Since many for-profit colleges obtain nearly 90 percent of their revenue through federal financial aid, most of the blue-chip legal fees for prosecuting these lawsuits will be paid by you and me, the taxpayers, just as we’ve paid for most of the millions they’ve spent on lobbying, consultants, and advertisements to escape responsibility for their shoddy, overpriced programs.
We’ll also be paying for the Justice Department to defend the lawsuits, and for the judges, law clerks, court clerks, court reporters, and others to administer justice. An appropriate word to describe this shameless, relentless pursuit of profits, without regard for fiscal harm and human consequences: Gluttony.
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