Wednesday, December 15, 2010
Conway Subpoenas For-Profit Colleges
Attorney General Jack Conway says his office is launching a consumer protection investigation into "questionable business practices." Conway has issued civil subpoenas to six for-profit colleges in Kentucky for a variety of information, including student loan default rates, advertising claims and job placement.
For-profit colleges have faced increased nationwide scrutiny in recent months for some questionable recruiting tactics, high loan default rates, and low graduation and job placement rates. The government is taking notice because for-profit colleges are bringing in record amounts of federal aid money - $26.5 billion last year, up from $4.6 billion in 2000.
# posted by Homer Owens @ 11:21 PM 
