Scott Marks 9:44 a.m., May 21
Bridgepoint Exploiting Military, Says Senator
Sen. Tom Harkin, chair of the Senate's Health, Education, Labor and Pensions committee, released figures today (April 12) showing how for-profit colleges, particular San Diego's Bridgepoint Education, take dubious advantage of tuition assistance (TA) funds provided by the Department of Defense. Harkin's data showed that for-profit colleges received $280 million of the total $563 million from military tuition assistance in 2011. Bridgepoint increased its TA revenue by 199% over two years to $27 million. For-profits have a perverse incentive to target military students, according to the report prepared by Harkin's committee. Under federal law, no more than 90% of for-profits' revenue can come from federal aid. But the money received from the military does not come under that 90-10 rule. The report suggests that the military money should come under the 90% rule.