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Congressmen Blast For-Profit Colleges

8:01 AM, Jul 31, 2012   |    comments
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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.