"Taxpayer funds are lifeline for more than 100 for-profit schools"

[applegrove]

Taxpayer funds are lifeline for more than 100 for-profit schools

By Aaron Glantz

https://beta.cironline.org/reports/taxpayer-funds-are-lifeline-for-more-than-100-for-profit-schools/

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1. 133 for-profit colleges get more than 90 percent of their revenue from taxpayers.

Department of Education analysts identified 133 for-profit schools that are almost completely subsidized by taxpayers, receiving more than 90 percent of their revenue from a combination of Pell Grants, Stafford Loans, GI Bill funds for veterans and Department of Defense tuition assistance to active duty military.

They range from small proprietary trade schools like Trendsetters of Florida School of Beauty & Barbering in Jacksonville to for-profit giants owned by publicly traded companies, including the University of Phoenix, Ashford University, Strayer University and Colorado Technical University.

Wayne Robinson, president and CEO of Student Veterans of America, said he looked forward to reading the Department of Education’s full analysis. He said his group is concerned about any school that seeks “to exploit the 90/10 loophole, resulting in the undue recruitment of veterans for their GI Bill funds.”



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[gratuitous]

1. Unsurprising

Somewhere along the line, we seem to have decided that education is no longer an investment in the future, but a profit center to be exploited, like health care or war. I wonder if we can change our minds?