Democratic presidential candidate and former U.S. Secretary of State Hillary Clinton speaks at the National Association of Latino Elected and Appointed Officials' (NALEO) 32nd Annual Conference at the Aria Resort & Casino at CityCenter on June 18, 2015 in Las Vegas, Nevada.
Hillary Clinton announced on Thursday a new plan intended to stop for-profit colleges from fleecing veterans who use federal G.I. Bill funds to attend school.
Speaking before a roundtable with veterans in Reno, Nevada, Clinton focused her remarks on the so-called 90-10 rule. The rule requires for-profit colleges to accept at least 10% of their money from private dollars rather than federal financial aid and loans, with the idea of holding the schools more accountable to the open market.
But an unintended loophole in the 90-10 rule means that federal military benefits like the Post-9/11 G.I. Bill can count toward schools’ 10%. That leads for-profit schools to aggressively target veterans in search of federal dollars, often deceptively. Proponents of a new bill say that veterans at many for-profit schools have high dropout rates and leave badly in debt.
Clinton would plan to close the loophole.