NAACP Statement on Obama Administration Proposal to Regulate For-Profit Colleges
The Obama Administration announced new steps to address growing concerns about troublesome student loan debt by requiring for-profit colleges to do a better job of preparing students for gainful employment – or risk losing access to taxpayer-funded federal student aid.
The proposed regulations released by the U.S. Department of Education will protect students by limiting how much debt students can amass in career-training programs and by setting standards that dictate what for-profit colleges must do to ensure that their graduates find jobs. The NAACP released the following statement in response to the president’s proposal regarding career programs and for-profit colleges.
From NAACP Interim President Lorraine C. Miller:
“Many for-profit colleges offer high-cost degree programs that rarely lead to high-paying careers and saddle many of their students with heavy debt,” said NAACP Interim President and CEO Lorraine C. Miller. “The NAACP applauds new steps taken by the president to ensure that all students, but especially those in black and brown communities, are protected. We know that many for-profit colleges are like subprime mortgage lenders, targeting low-income students of color, falsely advertising a quality education at a fraction of the cost and time of a traditional institution.”
“President Obama’s proposal to limit how much debt students can amass while attending for-profit institutions is a step in the right direction,” Miller continued. “Between 2004 and 2010, black enrollment in for-profit bachelor’s programs grew by a whopping 264 percent, compared to a 24 percent increase in black enrollment in public four-year programs. Institutions of higher education should not be allowed to prey on students who are simply trying to do what is right. In this country, education should be a vehicle to success not distress.”