Massachusetts Attorney General Martha Coakley filed suit against Corinthian Colleges alleging the for-profit college misled students about the quality of its training programs and job placement rates. The claim also accuses Corinthian of steering students into subprime student loans with high interest rates, thus saddling them with debt and no ability to achieve gainful employment. At the federal level, the Obama administration’s proposed gainful employment regulations and legislation proposed by Sen. Tom Harkin (D-IA) and Dick Durbin (D-IL) both call for more oversight of for-profit colleges.