(TheConservativeNews.org) – For-profit colleges are higher education facilities whose main goal is making money for investors. These private institutions survive on federal government funding, and typically spend far more on marketing than they do on educating their students.
Unsurprisingly, they’re the topic of much controversy in Washington, DC, especially for one particular political party.
Democrat lawmakers like Senator Elizabeth Warren (D-MA) frequently call for reform of the industry, pointing to the fact for-profit schools often target disadvantaged students with their marketing efforts.
However, on Tuesday, March 2, senior Democrats remained silent as past for-profit college board member Gary Gensler was confirmed as the new head of the Securities and Exchange Commission. Gensler sat on the board of Strayer University for eight years, accumulating millions of dollars’ worth of equity in the company during that time.
Strayer University has faced a lot of criticism in the past. Its poor graduation rates are a massive concern; on some of its campuses, an average of just 3% of students manage to graduate within 8 years.
Despite this, Democrats on the Senate Banking Committee did not question Gensler on his role at Strayer during the confirmation hearing. Clearly, confirming Joe Biden’s picks is the first priority for Senate Democrats.
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