The Long and Controversial History of For-Profit Colleges
This article is for subscribers only.
Oct. 25 (Bloomberg) -- Advertisements touting for-profituniversities are everywhere. Schools such as Apollo Group Inc.’sUniversity of Phoenix peddle instruction in person and online,promising that students can earn their degrees on their owntime, in their own homes -- even in their pajamas.
The growth of such institutions has sparked controversy,partly because of their reliance on federal financial aid andthe high default rates of their students.