for-profit education

Last week, President Obama signed an executive order to protect veterans, soldiers and their families from being swindled and hoodwinked by for-profit schools. Check out some of these shady behaviors, and you'll understand what set Obama off.

On Monday, the stock market will take the day off to shake the confetti out of its hair. But on Tuesday, it'll be back to business as usual on Wall Street. Here are some of the items that will shape the first trading week of 2012.

Consumer complaints of alleged misrepresentation of financial aid and other misconduct has prompted an investigation of eight for-profit schools including University of Phoenix and Kaplan University by the Florida's attorney general's office. It's the latest round of scrutiny for the for-profit...

Some for-profit colleges may lose access to U.S. government aid as the Department of Education works to improve oversight of the sector. Colleges that pay recruiters based on how many students they sign up could be disqualified from participating in federal-aid programs, Bloomberg News reported....

With the withering economy making it tough for students to find jobs after graduation, an increasing number of borrowers are defaulting on their student loans. The overall default rate on federal student loans grew to 7 percent in fiscal 2008 from 6.7 percent a year earlier, says the Department of...

The for-profit education industry takes concepts of building customer loyalty through good service and turns them upside down: It preys on society's weakest members and hires desperate sales people who must harass these people into borrowing money they're unlikely to ever repay.

Business is booming for companies that reap profits from the growing number of Americans with their backs to the financial wall. Former New York Times reporter Gary Rivlin's new book Broke, USA dives into the world of pawnshops, payday lenders and the rest of the "poverty business."

Consumer advocates have been pushing for the government to curb excessive debt loads among graduates of for-profit colleges. But Education Department rules on this issue have been delayed. The regulations should be passed -- and extended to all colleges, not just for-profit ones.

The for-profit education industry has grown rapidly for the past decade on the backs of the most vulnerable members of society. But now, with the Education Department on track to clamp down on abuses, and the Senate planning hearings, it looks like the party may be ending.

Since George W. Bush gutted regulations on the for-profit education industry, it has reaped huge profit growth, while appalling percentages of its students drop out with no degrees and big debts. Reregulation could lead those profits to plummet.