The point of holding the owners of fraudulent schools personally liable for student and taxpayer losses is twofold: to give the government another way of recouping those losses and, just as important, to discourage the future sale of education snake oil by shaming the sellers. If ever the department could have — and arguably should have — used this power, student loan experts tell NPR, it was after the historic collapses of Corinthian and then ITT Tech.
https://www.npr.org/2022/03/01/1062679587/for-profit-colleges-student-loan-borrowers-fraud
