Dive Summary:
- For-profit colleges receive federal money through grants and loans, but a report by the U.S. Department of Education says the financial information those colleges release makes it hard to know how much of those billions of dollars are being spent on marketing vs. instruction.
- The amount of public money headed to for-profit schools is rising: Spending on overall federal student aid rose 68% from 2008 to 2012; the amount going to students at for-profit colleges during that period rose 79%.
- Some senators have introduced a bill that would bar colleges from using federal student aid for advertising, marketing or recruiting.
From the article:
... The report, which was released on the same day that a House of Representatives committee approved a bill aimed at curbing the department’s regulatory authority, recommends that the agency establish uniform criteria for financial reporting so it can improve its oversight. ...
