US Senate Committee Health, Education, Labor and Pensions | Harkin: Report Reveals Troubling Realities of For-Profit Schools (link)
“In this report, you will find overwhelming documentation of overpriced tuition, predatory recruiting practices, sky-high dropout rates, billions of taxpayer dollars spent on aggressive marketing and advertising, and companies gaming regulations to maximize profits. These practices are not the exception -- they are the norm; they are systemic throughout the industry, with very few exceptions,” Harkin said.
NY Times | "Federal Rule Would Cut Funding to Some Career- Training Programs"
The government would cut off funding to programs that consistently fall short under the "gainful employment" rule, to be published Thursday--effectively a death sentence for the programs, because a majority of their revenue comes from federal student loans and Pell grants...
... They frequently note that as a whole, for-profit schools have low graduation rates and charge more than nonprofit schools. Their students tend to borrow more money, and former students are far more likely to default on their loans.
For-profit schools also disproportionately serve low-income and minority students... Consumer advocacy groups say the schools simply prey on unsophisticated consumers...