I understand this space and can speak to it at a high level. The current for-profit system exists ONLY because of the broken federal student loan system. The g

I understand this space and can speak to it at a high level. The current for-profit system exists ONLY because of the broken federal student loan system. The goal of 95% of these schools is to extract the federal student loan money from the student as efficiently as possible with a nominal focus on quality of education. To prove it, spend a half hour reading online education feeder sites that provide reviews (do a few google searches). They fall into three buckets - 80% complain about the aggressive recruiting tactics, poor education and poor customer service. 15% are sock-puppets paid by the universities to write reviews. 5% are satisfied students. But here's the rub - and I wake up daily baffled by this phenomenon, but the students read the reviews and still attend the schools. There are by my estimation four reasons for this: First, you're dealing with, ironically, uneducated, low-income people who don't understand what they're getting into - they have been lead to believe that a college degree is worth something, and they'll take 30-40K of UNFORGIVABLE debt (because it's a federal loan) to make minimum wage. Second, you're in an environment (higher education) where the very idea of certifying and grading the quality of education would have been unthinkable in decades past and the regulatory environment hasn't caught up with the business realities. Third, the ease of access to government money won't dry up until major changes are made at the federal level and there's little likelihood that politicians would set themselves up as being against education for lower-income students. Lobbying has ramped up to protect the stream of 20-30 billion dollars of money flowing into the industry. Fourth, aggressive recruiting tactics driven by the money at stake are keeping the doors full and forcing students into school without knowing what they're getting into.