Military personnel and their families are under attack. Not from terrorists or enemy soldiers, but from some for-profit colleges in this country. That’s the claim of a recent New York Times article by Holly Petraeus, Assistant Director for Service Member Affairs at the Consumer Financial Protection Bureau.
Mrs. Petraeus, the former Military Line Director for the Better Business Bureau, says that the post 9/11 GI Bill, which helps military members get post-secondary education by guaranteeing payments, has been hijacked by predatory lenders.
Certain schools, she says, target soldiers with “aggressive and often misleading marketing, and then provide little academic, administrative, or counseling support once the students are enrolled.”
If you or your loved ones receive Tuition Assistance while on active duty, or plan to use the GI Bill to go to college after your military service, please ask yourself the following:
• Is the school I am considering for-profit or non-profit? Which would be best for me?
• How much career decision support is available to me?
• What is the employment track record of the graduates in this particular field? Is there an Alumni program to assist me?
• What are the school’s academic credentials? Will my credits transfer to another school?
• What is the college’s default rate for student loans?
Mrs. Petraeus was careful to point out that many for-profit colleges have “a long record of serving the military, solid academic credentials, and a history of success for their graduates.”
But, as with all purchases—it’s better to investigate the particular school you’re condsidering BEFORE you invest in it.
Holly Petraeus’s husband, General David Petraeus, is retired Army and currently the director of the C.I.A.
To read the NYT article click HERE.
Sources for this article include Mrs. Petraeus’s interview on National Public Radio (NPR). Please go to www.npr.org for this news story.