Student loans are tough enough to deal with but it appears for-profit colleges are intentionally targeting military veterans eligible for the GI Bill. Students are winding up deep in debt at the more expensive for-profit college with no degree or a degree worth little. Some experts interviewed in the broadcast said that online degrees are viewed less favorably by hiring managers and that for-profit degree recipients are paid about 15% less than graduates from other schools.
The Frontline story below represents that for-profit schools are targeting military veterans because of all the money to be made on the benefits available under the GI Bill.
Sadly the Department of Veterans Affairs was not supplying sufficient information to military members to make educated and informed decisions about what type of education will be beneficial.
Now the VA tells students only 28% actually graduate from for-profit colleges. – Source
Veterans laid their lives on the line, may have been snookered by for-profit colleges and are left in debt with private student loans. And when it comes to good options for adjusting demands made by private student loan lenders, there just are none.
Some of the for-profit colleges specifically named in the Frontline investigation included University of Phoenix, Devry University, Art Institute, Strayer University, Kaplan University, Westwood College, and Argosy University.
According to previous data, over 25% of all GI Bill benefits are distributed to eight for-profit schools: University of Phoenix, ITT, Art Institute, Argosy, DeVry, Sanford Brown, CTU, and Strayer.