Friday, April 27, 2012

Obama To Trademark "GI Bill" In Effort To Protect Veterans From Being Swindled By Fraudulent Marketing Practices Of Colleges

The Obama administration wants to trademark the term "GI Bill" in an effort to shield veterans and military families from being swindled or misled by schools that target their federal education benefits.

President Barack Obama is signing a wide-ranging order on Friday that partially addresses growing complaints about fraudulent marketing and recruiting practices aimed at military families eligible for federal education aid under the GI Bill.

First, the president and first lady Michelle Obama paid tribute to fallen soldiers, walking slowly hand in hand along the Fort Stewart Warriors Walk, a wide path lined with 441 memorial trees. The base of each tree bore a granite marker with a soldier's name.

The president and his wife then were to speak to troops at this Army post in Georgia, where Obama will sign an executive order mandating several new education protections for military service members

Though there is little the federal government can do to shut down diploma mills, the new protections would make it harder for post-secondary and technical schools to misrepresent themselves to military students.

The main target of the White House action is for-profit colleges and universities that market heavily to military families because of the easy availability of federal money under the GI Bill.

Some post-secondary schools target current and former military service members using deceptive military-themed websites that appear to be government-run or connected to the GI Bill benefit system, administration officials said.

The financial regulation overhaul that Obama signed in 2010 included the creation of a Consumer Financial Protection Bureau with specific authority to protect members of the military from predatory financial practices.

The law set up an Office of Service Member Affairs to help members of the military and their families "make better informed decisions regarding consumer financial products and services."

Bills pending in Congress, largely backed by Democrats and unlikely to become law soon, would do many of the same things Obama was ordering Friday.

Obama's order will also set a new gauge that potential students can use to calculate how much a school will really cost in tuition and fees. Schools are asked to voluntarily participate in the "Know Before You Owe" system this school year and would be required to do so next year.

No comments: