FAIRFIELD — For-profit colleges would have to meet a minimum graduation rate of 30 percent and default rate of less than 15.5 percent before they can admit veteran students who receive GI Bill financial aid if legislation introduced by Assemblyman Jim Frazier passes.
Frazier, D-Oakley, said his measure is to help ensure veteran student success at for-profit colleges.
The bill establishes the same graduation rate and default rate that the Legislature recently enacted as a requirement for these for-profit colleges to receive Cal Grant dollars, the assemblyman said.
“Every year the GI Bill helps thousands of veterans subsidize their college education and has been credited with the transformation of the middle class after World War II,” Frazier said in a press release. “While for-profit colleges can be a good choice for many nontraditional students, a number of companies have capitalized on the financial assistance that veterans receive.”
A 2012 report released by the U.S. Senate Health, Education, Labor and Pensions Committee examined taxpayer investment of billions of dollars into companies operating for-profit colleges, Frazier said. The report revealed for-profit colleges employed nearly three recruiters for each support service employee and in some cases spent less on instruction than marketing and recruiting.
“Many veteran students have left these colleges with outrageous debt and few marketable skills to obtain a job that pays a living wage. We have the opportunity to set reasonable standards that will produce a well-educated and well-trained veteran workforce,” Frazier said in the release. “Our veterans deserve to be treated with respect and provided a high quality education from the college they attend.”
Reach Ryan McCarthy at 427-6935 or firstname.lastname@example.org.