Senator Elizabeth Warren is the enemy of any and all corporations which seek to take advantage of low-income Americans for their own financial gain. Most recently, the senator turned her attention to for-profit scam school ITT Tech which makes its fortune by offering sub-par education at an outrageous price, using aggressive marketing and deceptive practices.
Many for-profit schools are currently being examined by the government to see if their brand of “education” is defrauding American students, and ITT Tech alone is currently being investigated by a whopping 20 agencies.
Until recently, the for-profit “university” was allowed to continue practicing, despite the mounting evidence, but on Thursday, Senator Warren made the announcement that the Department of Education has finally banned ITT Tech from enrolling new students who plan to use federal loan or grant dollars. While this doesn’t stop uninformed students from using their own cold, hard cash in the scheme, it does mean that taxpayers are no longer forced to front the bill for this scam school.
“ITT Tech – a massive, for-profit college – is currently under investigation by 20 state and federal agencies for cheating students. The SEC, the Consumer Financial Protection Bureau, and Massachusetts Attorney General Maura Healey are all suing them for fraud.
ITT’s free ride is finally over, and the message couldn’t be clearer: We will no longer stand by and allow these shady institutions to bilk taxpayers and cheat students.”
Warren has once again stepped up to make the public aware of yet another corporate scam which seeks to drain the cash from the pockets of low-income Americans. Just like her fight against the payday loan industry, Warren is fighting for us, not the corporate giants.