For-Profit Colleges Got 92.5% of their Tuition, $3.7B, from US
Career College Central Summary:
An internal Department of Education analysis obtained by The Center for Investigative Reporting, which was completed this summer but never publicly released, found:
In 2012, 133 small proprietary trade schools, ranging from Trendsetters of Florida School of Beauty & Barbering in Jacksonville to for-profit giants owned by publicly traded companies, including the University of Phoenix, Ashford University, Strayer University, and Colorado Technical University, received 92.5 percent of their revenue from taxpayers.
Taxpayers paid $9.5 billion to these for-profit colleges in 2012, including $8.8 billion from Pell Grants, Stafford Loans, and other financial aid programs administered by the Department of Education; $90 million from military tuition assistance; and $636 million from the Department of Veterans Affairs.
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THE PROGRESS REPORT