The federal initiative may affect about 70 colleges all around the country, including the
The Federal Trade Commission has sent warnings to approximately 70 US for-profit colleges that they could face considerable monetary penalties in case they keep lying to students about how successful their graduates are.
The Commission’s members voted 5-0 to introduce punishments to institutions that exaggerate the average earnings of their graduates, misrepresent how likely their graduates are to get jobs, and play other tricks to attract students.
"For too long, unscrupulous for-profit schools have preyed on students with impunity, facing no penalties when they defraud their students and drive them into debt," said Head of the FTC Lina Khan in a statement.
According to the FTC, they have sent notices to almost seven dozen colleges including the largest in the country. Still, they noted that the warnings were not penalties.
The measure comes amid growing discontent with colleges’ policy, with the number of complaints growing by around 70% since 2018.
The plans were met favorably in the US, with many netizens sharing their experience on social media. Most of them support the initiative and suggest compensating for students who took loans to enter the universities.