There was an interesting article this week about how the for profit school associations have recently hired a truck-load of lobbyists. Their purpose? To influence, water down or defeat proposed regulations concerning government funding for this category of schools.
Recent investigations have reported that some of these for profit schools are nothing but diploma mills, many with horrible graduation rates and hiring potential. Too many are turning out "graduates" with little skills or knowledge, but with huge student loans. Some of these schools have a reputation for pushing government student loans, promising that students will quickly find good jobs so they can repay the loans.
The investigations also show that for many of these schools, 90% of their revenue comes from government grants and student loans. Think about that! 90% of their revenue. BUT, they don't want any government oversight. It's another case of "give us the money and then go away, so we can do what we want with it."
No dammit! If my tax money is providing their revenue, then I want to know what the hell they are doing. Otherwise, if they don't want any oversight, let them go to Goldman-Sachs, or Bank of America. These people are really good at ignoring where the money goes.