We respectfully petition the President of the United States and Congress to address the sub-prime lending and deceptive marketing practices of for-profit schools and universities.
These institutions, such as Phoenix University, have failure rates of 40-60%; which cause an undue burden on the people who take out federal student loans and do not complete their degree.
While measures have been taken such as withholding federal loans from colleges that have failure rates higher than 30% starting in 2014, these colleges have proven adept at getting around regulations and more bipartisan action is needed.
We petition the office of the President of the United States to outline additional measure to address this growing problem, which adds to the overall student loan burden of the US.