<p>For-Profit</a> Colleges: Targeting People Who Can't Pay : NPR</p>
<p>Great interview on NPR's Fresh Air with an investigative reporter who looked at the portion of the for-profit college industry that is run in an immoral manner. It addresses companies that primarily exist to soak up federal pell grants, federally-guaranteed student loans and recently expanded veterans benefits.</p>
<p>The story discusses one for-profit college that finds manner of its students in homeless shelters. It gets them to sign up for huge federal loans. They rarely graduate, but are stuck with loans that make it impossible to get out of their hole, particularly because federal loans cannot be eliminated through bankruptcy.</p>
<p>One of the worst for-profit colleges is funded by Goldman Sachs. </p>
<p>Of course, there are some legitimate for-profit colleges, but there is almost complete lack of oversight. As a result, federal expenditures on pell grants have increased by tens of billions.</p>
<p>One for-profit that was almost entirely on-line had hundreds of people paid to recruit students, but only one person to find jobs for their students.</p>