For-profit colleges have become ubiquitous thanks to cable TV advertisements for DeVry University and the University of Phoenix. But many of these for-profit institutions simply do not offer what they promise.

A recent study from the College Board found that tuition at for-profit schools averaged $14,174 in 2009, while the average for two-year state schools was $2,544. Often, young people take out loans to pay for private education, accruing massive debt. They also rely on federal funds such a Pell grants to pay for their tuition, effectively giving taxpayer money to private corporations not necessarily invested in the future of education. These kinds of discrepancies in the private sector demand federal oversight to curb for-profit institutions' abilities to prey on the poor.

The Obama administration's new proposal to curb federal funding given to for-profit colleges would require schools to "disclose graduation and job-placement rates to prospective students," and would help define what can truly be considered "gainful employment" for recent grads. It would also cut federal funding altogether if graduates will be forced to spend more than eight percent of their starting salary on debt repayment. It would put an end to the smoke and mirrors used to lure young people into expensive degree programs.

Predatory recruiting and exorbitant tuition payments at for-profit institutions must be stopped. Tell Congress to support President Obama's proposal to rein in for-profit colleges!

Photo credit: ralph and jenny