Kentucky’s attorney general is supporting federal legislation to curb recruiting abuses by for-profit colleges.
Jack Conway and 13 attorneys general are supporting the Protecting Financial Aid for Students and Taxpayers Act sponsored by Sen. Kay R. Hagan (D-NC) and Sen. Tom Harkin (D-IA).
The bill restricts colleges and universities from using federal financial aid for recruitment, advertising, and marketing purposes.
"I support higher education and students who seek a degree to create a better life for their families, but many times I see those dreams turn to nightmares when students fall prey to a fast sales pitch from a for-profit college with a questionable reputation," Conway said. "The students end up with tens of thousands of dollars in debt and no degree."
More than $55.5 million in relief has gone to hundreds of Kentucky homeowners in the national mortgage foreclosure settlement.
Kentucky Attorney General Jack Conway said in a statement that a recent report from the independent settlement monitor also indicates that mortgage servicers were processing more than $2 million in additional claims for Kentucky borrowers, for a total of $57.5 million.
The statement said the 1,562 borrowers received an average of $35,534. The relief was provided by Ally/GMAC/Bank of America, Citi, Chase and Wells Fargo through Dec. 31.
Conway's office said the information provided by mortgage servicers hasn't been verified by the compliance monitor.