It doesn't seem like the selectivity/prestige effect applies to people who go to for-profit schools. Since prestige is subjective, for-profit schools can market

It doesn't seem like the selectivity/prestige effect applies to people who go to for-profit schools. Since prestige is subjective, for-profit schools can market themselves as prestigious while expanding to provide seats to anyone who can obtain a student loan. The government should not be complicit in this deception, hence the action here.