For-profit colleges leave students with high debt and inadequate educations that can harm them for years after they graduate or quit school, witnesses are scheduled to testify today at a Senate hearing in Washington.
Tiffany Roberson works for the state of Texas as a parole officer, teaches part time and is living with her parents after finishing a master’s degree. She’s held off marrying her boyfriend of four years and starting a family because she owes more than $170,000 in federal and private student loans.
The Obama administration approved regulations restricting incentive-based sales practices at for- profit colleges. The release of a draft in June slowed enrollment growth at Apollo Group Inc. ’s University of Phoenix.
A bipartisan Senate deal to cancel the doubling of a popular student loan rate by pegging the interest to market fluctuations will have to wait until next week for a vote, while Democratic leaders placate dissenters within their ranks.