"For-profit schools educate a larger share of low-income, minorities, veterans and single mothers than do nonprofit and public colleges. Eighty percent of their students lack parental financial support." Obama has decided they are "predatory" and are making sure they shut down if in violation of federal regulations not required of public institutions. Liberals scream when for-profit abortion clinics close due to health violations, but they applaud this. http://online.wsj.com/articles/obamas-letters-to-corinthian-1404684555
Federal law leaves states and accrediting agencies to prescribe how for-profits calculate job-placement rates. Yet they all have different rules, and most are open to interpretation. Seizing on the confusion, prosecutors have charged Corinthian with misrepresenting its rates. California AG Kamala Harris's suit criticizes Corinthian for "company-wide placement verification issues, including a lack of any definitions or standard procedures." Yet internal Corinthian memos revealed a strategy "to close or sell campuses that are not meeting placement outcomes."
College costs have soared far beyond health care or housing. If the government needs to clean house, why not start at the top instead of the bottom.