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For-profit colleges slammed in Democratic Senate staff report

Los Angeles Times by Jamie Goldberg | Jul. 31, 2012 (News Report)
It says they are failing students and costing taxpayers too much. Republicans call the investigation biased.

For-profit colleges are failing their students and saddling taxpayers with an enormous bill, a two-year investigation by the Senate education panel's Democratic staff concluded. Full Story »

Posted by Tanya J. Maurer

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 by Tanya J. Maurer - Aug. 2, 2012

The report linked the high dropout rates with a lack of money spent on instruction at for-profit colleges, finding that in 2010 the 30 for-profit colleges that were examined employed 35,202 recruiters compared with 3,512 career services staffers. The companies examined in the report spent 42.1% of their revenue on marketing, recruiting and profits, while spending 17.2% on instruction. More than 80% of the revenue at for-profit colleges came from federal financial aid, Harkin said.

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