Washington, D.C.– Rep. Raúl M. Grijalva’s Tucson district office is hosting a workshop today for students preparing to seek financial aid for college. The event follows Grijalva’s Jan. 22 introduction in Congress of the Protecting Financial Aid for Students and Taxpayers Act, which prevents colleges and universities from spending federal educational assistance funds on advertising, recruitment or other non-educational activities.
The Need for the Bill
According to a report from the Senate Committee on Health, Education, Welfare and Pensions – available at http://1.usa.gov/XwmuV5 – taxpayers put more than $30 billion a year into companies that operate for-profit colleges. This figure includes roughly 25 percent of all Department of Education student aid funds, 37 percent of Post-9/11 GI Bill benefits, and 50 percent of Department of Defense Tuition Assistance funds. Among the 15 publicly traded for-profit college companies, the total of these sources accounts for 86 percent of revenues.
In fiscal year 2009, the 30 companies examined in the report devoted 22.4 percent of all revenues, or $4.1 billion, to marketing, advertising, recruiting and admissions staffing; 19.4 percent, or $3.6 billion, to profit; and only 17.7 percent, or $3.2 billion, to student instruction. The average CEO salary was $7.3 million in 2009, more than seven times the average salary of large public university presidents, and more than twice the average at non-profit colleges and universities. The amount allocated to marketing and to profit each exceeded the 17.4 percent spent on student instruction.
Today’s Event in Tucson
Today’s Free Application for Federal Student Aid (FAFSA) workshop is free and open to the public. A Grijalva aide will present a PowerPoint on how to complete a FAFSA application and explain the process of getting financial aid for college.
WHAT TO BRING
If You Go
What: FAFSA workshop with federal Department of Education officials
Where: Sunnyside High School, 1725 E. Bilby Rd. in Tucson
When: 4:00 p.m. on Feb. 19
For more information: Call Rep. Grijalva’s Tucson office at (520) 622-6788.