To exploit students (and taxpayers), for-profit colleges can first exploit veterans.
This article is not about how for-profit schools exploit veterans, although that is certainly part of the problem. This article is about why. And, why you, as an American taxpayer, should care. You see, veterans are merely the first step in a two-step game to win billions in federal taxpayer dollars — dollars that many for-profit colleges should not be eligible to receive.
This story starts with a federal protection referred to as the “90/10 rule.” The 90/10 rule requires that, for a for-profit school to be eligible to receive any federal student aid, it must generate at least 10% of its revenue from sources other than federal student aid.