article_snippet.sent: Many of these schools are for-profit career colleges that operate mostly online.
article_snippet.sent: There are about 1.3 million students enrolled in for-profit colleges, many of which have questionable track records, and many of which students need help transitioning into legitimate postsecondary schools.
article_snippet.sent: With Uncle Sam's student loan debt sheet topping $1 trillion, we literally can't afford to continue funding for-profit colleges -- which reportedly get 86% of Uncle Sam's student loan debt sheet topping $1 trillion funding from federal student loan money.
article_snippet.sent: For those not familiar with the for-profit college fiasco, here's the whole story in one telling statistic:
article_snippet.sent: While for-profit colleges enroll only 13% of the nation's college students, such colleges account for nearly half of all student loan defaults, according to Department of Education statistics.
article_snippet.sent: For comparison's sake, the default rate of for-profit college students is worse than the default rate of the worst subprime borrowers during the financial crisis.
article_snippet.sent: How do these colleges operate?
article_snippet.sent: The for-profit college business is a multibillion-dollar industry.
article_snippet.sent: The remaining for-profit colleges should be closed.
article_snippet.sent: But according to a jaw-dropping report by the Education Department, the average graduate of an online for-profit college makes less than a high school dropout.
article_snippet.sent: If for-profit colleges are this terrible, are -profit
article_snippet.sent: colleges are this terrible at least cheaper?
article_snippet.sent: In fact, -profit colleges are this terrible cost is reportedly around 60% higher than a comparable degree from a public college.
article_snippet.sent: A 2011 report by the Government Accountability Office found widespread rule breaking by the largest for-profit colleges -- everything from accepting fictitious high-school diplomas to encouraging plagiarism and cheating.
article_snippet.sent: All told, no fewer than 36 state attorneys general were investigating for-profit colleges in 2014.
article_snippet.sent: You can't hide your bad behavior forever, and the questionable practices of many for-profit colleges are starting to catch up with many for-profit colleges.
article_snippet.sent: Enrollment at the University of Phoenix -- the largest for-profit college in the United States -- has fallen by half, to about 213,000.
article_snippet.sent: For-profit colleges have flunked their final exam.
article_snippet.sent: Editor's Note: An earlier version of this article said the San Diego campus of the University of Phoenix Phoenix had been banned from enrolling military veterans last year; that issue has been resolved.