WASHINGTON (WUSA) -- Members of Congress are blasting for-profit private colleges. The Senate Committee on "Health, Education, Labor and Pensions" has been tracking the industry. It finds that U.S. taxpayers spent $32 billion last year on for-profit private schools even though they have a HIGH drop-out rate and price tag.
In the 2008-2009 school year 54% of for-profit students dropped out without a degree. That translates to more than half a million students.
Bachelor's programs at for-profits costs 20% more than public schools. An Associate's degree at a for-profit institution is four times the cost.
These for-profit institutions also drew heat for spending far more on marketing and recruiting than on actual instruction.