Opinion: To Cut College Loan Default Costs, Reform For-profit Schools' Taxpayers Subsidies
“For-profit colleges enjoy the fruits of a business model to die for. It’s not a new model. In fact, it’s very similar to the one employed by subprime mortgage purveyors Washington Mutual and Countrywide Financial that helped put the entire global financial system at risk, pitching the U.S. into the worst financial panic since the Depression,” Terry Connelly, dean emeritus at Golden Gate University, writes in The Huffington Post.
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