For-Profit, for Chrissake! Your tax dollars at work

Public TV Takes on For-Profit Colleges (Inside Higher Ed)

Airing tonight on PBS at 9 p.m. is Frontline's College, Inc., an hour-long look at for-profit higher education, its investors, and the U.S. Department of Education's efforts to regulate it. ... It tells stories of students plunging deep into debt and unable to get jobs, touches on traditional academe's criticisms, and looks at the negotiated rule-making process aimed at reining in abuses of the Title IV federal financial aid system, with a particular focus on career colleges.

But it is likely to garner lots of attention -- from ordinary Americans, think tankers and Congressional staffers -- and to stir up press releases, editorials and conversations that will skew against the for-profit institutions just as the Education Department ratchets up its criticisms of the sector. The storyline is more balanced than many major-media examinations of for-profit colleges, but it's still a less-than-favorable depiction of the sector.

At the "Frontline" link, we’re told that

The biggest player in the for-profit sector is the University of Phoenix—now the largest college in the US with total enrollment approaching half a million students. Its revenues of almost $4 billion last year, up 25 percent from 2008, have made it a darling of Wall Street….

…[T]he cash cow of the for-profit education industry is the federal government. Though they enroll 10 percent of all post-secondary students, for-profit schools receive almost a quarter of federal financial aid. But Department of Education figures for 2009 show that 44 percent of the students who defaulted within three years of graduation were from for-profit schools, leading to serious questions about one of the key pillars of the profit degree college movement: that their degrees help students boost their earning power. This is a subject of increasing concern to the Obama administration, which, last month, remade the federal student loan program, and is now proposing changes that may make it harder for the for-profit colleges to qualify.

See also: Financial Affairs: TV Documentary on For-Profit Colleges Will Hit Some Nerves—at Times, Rightly So (Chronicle of Higher Education)

You'll recall that, at Irvine Valley College, at least one administrator has urged faculty to allow the U of P to come into their classrooms to make their pitch.

See also: Troubles Grow for a University Built on Profits (NYT)