With $32 billion in subsidies, over half of for-profit students drop out
A two-year investigation found that for-profit colleges, while receiving $32 billion in federal student aid and other taxpayer funds in the most recent year, also boast the highest dropout rates at 54 percent across all programs, according to a major report the Senate Health, Education, Labor and Pensions (HELP) committee released on Sunday.
According to the report (PDF), released by HELP chairman Sen. Tom Harkin (D-IA), more than half a million for-profit students left before earning a degree or certificate, which breaks down across program types as 63 percent of students in associate degree programs, 54 percent of