Arnold Ventures released the following statement in response to closing the “90÷10 Loophole”:
For years veterans have been targeted for their GI Bill money. A loophole in federal law has allowed predatory for-profit institutions to use GI Bill dollars & Defense Department Tuition Assistance to evade the caps on federal student aid that for-profit schools otherwise face. The 90⁄10 loophole put a target on veterans’ backs, making them vulnerable to aggressive and predatory marketing practices by poor quality schools, like Corinthian and ITT Tech, that took their money and left them with worthless degrees.
Particularly now, with for-profit colleges stepping up their recruitment efforts in the pandemic, lawmakers must ensure veterans are protected and have access to high-quality educational opportunities.
We applaud Congress for closing this loophole in the reconciliation bill. This action is a critical first step to ensuring veterans will no longer be prey to these institutions.