A note about the for-profit college industry. SallieMae helped them skirt the 90/10 regulation. The private loan bankruptcy code that was stripped in 2005 combined with a Katrina bill that deregulated for-profit colleges, it created the perfect storm. They were pushing private loans disguised as Federal hard because SallieMae was middleman. For every 1 dollar of private loans they tricked students into, they got 9 dollars of Federal money in Pell/Federal loans. Obamacare changed that a bit so that that SallieMae isnt the middleman, but they totally got away with what they did. They worked with the school to abuse "preferred Lender lists" The Attorney General of NY caught them doing this and they settled for 2 mill but made 118Billion.
Its so slimey.
Nowadays for-profit colleges suck up 90% of their funding via Pell/Federal loans, the other 10 % is in the form of GI BILLs pilfered from vulnerable veterans¬† and bogus scholarship write-offs.