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Dropout Rate at 16 For-Profit Colleges Was 57%

About 57 percent of students at 16 for-profit colleges who started classes in the 2008-2009 academic year have dropped out, Senator Tom Harkin said.

During the three years, an estimated 1.9 million students left the institutions, most with nothing to show for their time except debt, Harkin said today at a hearing in Washington, quoting from a report by his office. The Senate Health, Education, Labor and Pensions Committee held a hearing today into whether the schools misled students on employment prospects after graduation.