For-Profit College Companies Squander Tax Dollars, Report Says
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For-profit colleges in the U.S. receive billions in federal dollars yet spend more money on marketing than on instruction, with many students dropping out without a degree and in debt, according to a Senate report.
The schools, which got $32 billion in tuition aid in 2009-2010, aren’t a good investment for taxpayer money, according to the study released today. The report, from the Senate Committee on Health, Education, Labor and Pensions, led by Iowa Democrat Tom Harkin, examined 30 education companies over two years.