Many for-profit colleges get 80 percent, 90 percent, or more of their revenue from taxpayers. Taxpayers have a right to expect adequate performance and avoidance of waste, fraud, and abuse.
Some for-profit schools do a good job. But there’s enormous evidence that many for-profit schools, getting billions in federal aid, have engaged in deceptive and fraudulent practices and that many students have been left with terrible outcomes, including insurmountable debt. That’s the problem.