Posted: August 2, 2010
For-profit universities have succeeded in harvesting billions of dollars annually in federal student aid. Many are also quite adept at paying huge executive salaries and lobbying to keep the taxpayer money flowing. But sky-high loan default rates among students at these schools suggest that they are not delivering on their promise to efficiently produce the kind of skilled workers that America so desperately needs. The Obama administration is right to flag the problem, though its response seems feeble.

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