The $2 trillion appropriated by Congress as coronavirus relief funds will benefit for-profit colleges with poor records, according to Marketwatch. They are likely to collect $1 billion. Dozens of for-profit colleges that are among those most likely to benefit from stimulus funding face thousands of claims from students demanding their money back because they say they were defrauded, according to analysis prepared for MarketWatch. Some of the schools eligible for bailout funds also face federal scrutiny for mismanaged funds, while others have been dubbed “failed” under a federal standard requiring them to provide an education adequate for repaying loans, the analysis shows. Some schools eligible for bailout funds have settled lawsuits with the U.S. Justice Department following allegations of fraud and misuse of federal student aid…
At dianeravitch.net
