The Kentucky Attorney General filed suit Wednesday against a chain of for-profit colleges in the state, claiming that administrators at Daymar Colleges have consistently deceived students by making false promises about the ability to transfer course credits and have forced them to purchase textbooks and supplies at substantially marked-up rates.
Attorney General Jack Conway (D), who is leading a multi-state investigation into for-profit colleges with top prosecutors from 18 other states, alleged that Daymar Colleges violated state consumer protection laws by engaging in âunfair, false, misleading and deceptive acts and practicesâ involving financial aid and recruitment of students. The suit seeks damages and restitution for approximately 5,000 students who were allegedly swindled by the schools.
The for-profit college industry, which has tripled in size over the past decade, is facing increased scrutiny on a national scale as evidence mounts that some schools are aggressively recruiting unsuspecting students and capturing disproportionate shares of federal student aid dollars as revenues. Many students leave the schools with unmanageable debts and little in the way of job prospects, leading to a high rate of federal student loan defaults.
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