Nearly 200 for-profit colleges around the country are skirting federal law, a report released last week by the Department of Education finds, by targeting U.S. military veterans for their G.I. bill tuition funds.
Nothing New here. When I was in the Navy in 1969, the Household Finance Co. (nicknamed the Hawaiian Fruit Company by many sailors) was notorious for targeting junior enlisted Navy personnel. They were very good at financing nice expensive Muscle Cars for young enlisted whose paychecks could not possibly support the payments, even living and eating every meal aboard ship. Get the guys' to put up a nice down payment, then repossess the car two months later. Then, the "Fruit" company would help that same car dealer sell the car to the Next gullible sailor who wandered past.
Both company had offices conveniently located within walking distance of the Main Gate to the Navy Base.
I assume they also had similar offices near Army & Air Force bases.
Predatory lenders including the banking conglomerates do the same thing today.
In New Mexico 40,000 title loans done in one
year and 10,000 repossessed vehicles.
You would think that the Pentagon would see to it that its people at least had a lecture on these predators. All of them from the loan companies to the for profit schools need to be explained to every soldier, sailor, marine and airman during their time in the service and especially when they muster out. It would not hurt to have some sort of Pentagon office devoted to helping military personnel get into reputable higher education.
I work supporting college students. The really awful thing here is that between the GI Bill and Pell Grant most veterans should be able to afford community college if not a state school. The challenge, as always, will be paying for living expenses while they are in school, but if you go to a community college and are single that may even be doable.