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House Democrats want to help defrauded students by requiring transparency from for-profit colleges
[email protected] (Ayelet Sheffey)
Rep. Lucy McBath introduced a bill to strengthen accountability for for-profit to nonprofit college conversions.
McBath said the conversion process has misled students, leaving them with student loans and nontransferable credits.
This comes after Biden s Education Dept. canceled $1 billion in student debt for defrauded borrowers.
Last month, President Joe Biden s Education Department canceled $1 billion in student debt for borrowers defrauded by for-profit schools. And on Wednesday, House Democrats introduced a bill to further strengthen protections for those students by monitoring status changes from for-profit to nonprofit institutions. ....

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