Banking & Credit

Consumer Groups Calls on VA Secretary to Withdraw Proposal to Allow Employees to Own Stock in For-Profit Colleges Accepting the GI Bill

In comments filed with the Department of Veterans Affairs, CFA, the National Consumer Law Center, and U.S. PIRG urged the Secretary of Veterans Affairs to withdraw the agency’s attempt to waive ethics requirements for Departmental employees with respect to for-profit colleges. The proposal would allow employees to own stock and accept payments from these colleges accepting the GI Bill.

Military families are frequently targeted by unscrupulous colleges to take advantage of their hard-earned GI Bill benefits. Conflicts of interest might exacerbate these problems. Too many veterans end up restarting their education, which can result in unnecessary student debt.

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