Illinois U.S. Senator Dick Durbin on May 1 delivered a speech on the Senate floor recognizing College Decision Day and warning students about the dangers of choosing to attend a for-profit college.
He says the Department of Education has found these institutions use deceptive practices to entice students to enroll, often with the help of large student loans, and then don't provide the quality of education promised.
Durbin says the students are left with a worthless investment.
"The sad part, the tragic part, the infuriating part is that the owners of these for-profit operations take all that money from student loans, offer nothing in return by way of education, and eventually when they go bankrupt, and they virtually all do, they end up off the hook. They don’t have any personal liability."
The Department of Education Wednesday announced over six billion dollars in student loan discharges for 317,000 students who attended the Illinois Institute of Art.
In Illinois alone, nearly 13,000 students will see more than 250 million dollars in borrower defense discharges.
