student loan consolidation - The For-Profit-School Scandal

Not too long ago, for-profit colleges seemed like the future of education. Targeting so-called “nontraditional students”-who are generally older, often have jobs, and don’t necessarily go to school full time-they advertised aggressively to draw business, claiming to impart marketable skills that could result in good jobs. They invested heavily in online learning, which enabled these to operate nationwide also to lower costs. The University of Phoenix, for example, enrolled hundreds of thousands of students in the united states, earning huge amounts of dollars annually. Between 1990 and 2010, the percentage of bachelors’ degrees that originated from for-profit schools septupled.