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Thursday, January 13, 2011

For Proft Colleges thrive off Federal money: GOP wants to give them even more

For profit colleges account for 11% of higher education students yet receive 26% of Federal money allocated to higher education. They account for 43% of all higher education loan defaults. They have also been accused of using questionable recruiting tactics, as well as leaving students buried in debt and with bleak job prospects. Executives at the schools are paid significantly more than their non-profit and public sector counterparts.

The toil under a burdensome law where only 90% of their revenue can come from Federal loans and that isn't enough for their appetites. They want that waived and the GOP are willing to play ball, allowing them to obtain 100% of their revenue from the government.

You would think that a party that was actually serious about the deficit might do something about this fiscal black hole.

Republicans have made little secret of the fact that they intend to use some of their new-found muscle in Congress to push back on attempts by the Obama administration and Senate Democrats to better regulate for-profit colleges. When asked if he would be of any assistance in regulating for-profit education outfits, House Education Committee Chairman John Kline (R-MN) replied, “I don’t think so.”

Not to worry, Republicans are on the budget cutting case. today in Iowa they eliminated funding for 20,000 pre school lower income children to pay for a new tax break for corporations. Who said they weren't serious about reducing the size of government. If only low income pre-school children would start contributing to political campaigns they wouldn't suffer such cuts.v

This pattern of "shared sacrifice" is being repeated in other states to offset budget problems. In Georgia they are increasing regressive taxes on groceries, water and phone service, which hits low income earners far harder to offset corporate tax cuts. In Florida Gov. Rick Scott who knows how to skin Medicare for billions is cutting benifits by $1.8 billion to allow for property and corporate tax cuts.

How fucking brazen can they be. "Shared Sacrifice" in these hard times for the GOP means those at the bottom get to share all the sacrifice. Anything else would be 'Un-American.'

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