By: Leo Shane III
“After nearly a decade of requests from veterans and military organizations, we are grateful Congress is moving to finally remove the target from the backs of veterans and servicemembers by closing this loophole,” said Carrie Wofford, president of Veterans Education Success.
“For too long, bad actor colleges have treated veterans and servicemembers as nothing more than dollar signs in uniform.”
At issue is the so-called 90-10 rule, which requires colleges and universities to have at least 10 percent of their revenues derived from non-federal sources like tuition or fundraising.
The idea behind the regulation is to ensure that for-profit institutions aren’t funded solely by federal dollars, essentially using taxpayer money as their only reliable source of income. However, under a loophole in existing rules, GI Bill benefits and Defense Department Tuition Assistance programs are not counted as federal money.