Predatory For-Profits Cashing In From GI Bill
The NYT reported that a large portion of funds from the new Post 9/11 G.I. bill is being funneled into the pernicious, predatory for-profits.
The article states:
The article states:
Data on the first two years of the program show large numbers of veterans — and the government dollars that follow them — going to for-profit chains. Of the $4.4 billion the Department of Veterans Affairs disbursed during the 2010-2011 academic year, $1 billion went to just eight for-profit schools. The top seven recipients were all for-profit institutions.
[T]he G.I. Bill attracts particular scrutiny because of concerns veterans are being aggressively recruited by institutions that generally have higher costs, default rates and dropout rates [my emphasis]. For-profits enrolled roughly 25 percent of veterans using the program but received 37 percent of the GI Bill funds.Senator Harkin (D-IA) has done a superb job in scrutinizing the for-profits, and deserves credit for his hard work