Wednesday, January 5, 2011

VA has authority to cut off for-profits!

It is official now  - President Obama has signed GI Bill 2.0 (S. 3447) into law!  This is great news for the military!  It will be an interesting time for the for-profit education industry as there was a trade-off in the bill. 

The good:  Veterans using the GI Bill for online schools going full time can now receive the housing allowance.  Prior to S. 3447, online students missed out on as much as $1,500 per month - a huge hit.  But so many Veterans needed to study online due to combat injury, family obligations or work so veterans groups stepped up and got this done.

The trade-off:  The bill includes a provision to "protect Veterans from predatory practices" by giving authority to the VA to cut-off schools that it feels are not serving vets.  Prior to the bill, if the school was accredited, they could participate.  Now, the VA can cut off any school.

This is a good deal for all and congrats to Congress, President Obama and Veterans groups for getting this done!