The top executives for the top 15 for-profit colleges pulled in $2 billion last year. Two billion dollars, practically all taxpayer money.
And that student loan money?—the default rate at these for-profits is 43 percent!
So, only 22 percent graduate and 43 percent default on the loans, leaving us holding the bag because students have been sold a bill of goods by slick marketers.
You already know all of this if you read University Diaries. Just reminding you.