Education Stocks Fall as Senator Durbin Details Curbs
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Strayer Education Inc. led a decline in for-profit U.S. education stocks as Senator Dick Durbin said industry practices should be curbed.
“We need to consider whether it is wise for companies to profit so handsomely on federal funding when the results don’t match the investment,” Durbin, a Democrat from Illinois, said in a statement. “And we need congressional action to rein in abuses and ensure that taxpayer dollars are being wisely spent.”