I thought that this was going to be about a slightly different topic. "Though students at for-profit schools accounted for less than 10 percent of U.S. higher

I thought that this was going to be about a slightly different topic. "Though students at for-profit schools accounted for less than 10 percent of U.S. higher education students overall, they soaked up almost 25 percent of federal student aid in 2008-2009 and contributed 44 percent of the federal loan defaults, according to both Eisman and an independent report by Senator Tom Harkin, Chairman of the Health, Education, Labor and Pensions Committee." "The Apollo Group, for instance, parent company of the familiar University of Phoenix and the largest for-profit education company, received $1.1 billion in federal loans and grants in 2009, Eisman said in his written testimony to the committee. However, of that total, only 99 million -- or, about 10 cents on the dollar -- went towards instructional costs. The rest, Eisman claimed, was spent on marketing and executive salaries." http://www.3quarksdaily.com/3quarksdaily/2010/07/is-forprofit-education-the-next-subprime-mortgage-crisis.html http://www.3quarksdaily.com/3quarksdaily/2010/07/is-forprofi...