Colleges need to 'have more transparency around admissions,” said Sheila Bair, former president of Washington College. investinyou (in partnership with acorns)
The college admissions scandal is coming at a bad time for higher education, which has already seen its reputation tarnished by other issues like student debt, said Sheila Bair, former president of Washington College.
Last week, dozens of people — including actresses Felicity Huffman and Lori Loughlin — were arrested in the admissions bribery scheme. The charges included the bribing of college athletic coaches and having other people take students' admission tests. Bair is a big proponent of changing the student loan system — and she has plan she thinks could solve the problem. There is now $1.5 trillion in outstanding student loan debt in the U.S.
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