Dive Brief:

• At least eight states and a federal agency have investigated Corinthian Colleges Inc.'s recruitment and financial aid practices.
• Despite the scrutiny, the for-profit college chain remains accredited and has received $10 billion in federal student aid – more than 80% of its revenue, according to a Huffington Post review of its records.
• One possible problem: Accrediting agencies receive their funding from the colleges they monitor.

Dive Insight:

At a Congressional hearing earlier this year, an education policy expert said: "This is like bond ratings firms giving AAA ratings to mortgage-backed securities sold by the same firms that pay their fees. It does not work out well in the long run." A Corinthian spokesman defends the schools' track record.