Among federal crackdown of companies serving student veterans, U.S. News and World Report releases rankings of best online programs
In May, student lender Sallie Mae agreed to pay more than $97 million in settlements to resolve allegations that it charged members of the military “excessive rates” on student loans.
Several departments, including the Department of Justice and the Federal Deposit Insurance Corporation, alleged that Sallie Mae violated the Servicemembers Civil Relief Act by improperly obtaining default judgements and by imposing interest rates that exceeded the 6 percent allowed by federal law.
About 60,000 servicemembers are expected to receive compensation from the settlement.
Meanwhile, the Obama administration and Democrats are cracking down on the for-profit college industry due to similar allegations. In March, the White House proposed new “gainful employment” regulations that would limit access to federal student aid for many vocational programs at for-profit colleges and universities.
The following month, Democrats in both the House and the Senate proposed the formation of a committee that would oversee the sector. The Department of Veterans Affairs would serve on that committee due to the allegations that for-profit universities tend to target veterans with improper lending practices and intimidation.
But it’s not all bad news for veterans looking to go to school.
Some universities, according to U.S. News and World Report, have been excelling at serving student veterans — particularly through more accessible and flexible online programs. U.S. News recently ranked what it believes to be the best 75 of those online programs.
Here, we list the top 30 colleges and universities included in the rankings.
(Next page: The 30 best online programs for veterans)