For-profit education
razib | March 13, 2010In Hard Times, Lured Into Trade School and Debt:
At institutions that train students for careers in areas like health care, computers and food service, enrollments are soaring as people anxious about weak job prospects borrow aggressively to pay tuition exceeding $30,000 a year.
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The Apollo Group -- which owns the for-profit University of Phoenix -- derived 86 percent of its revenue from federal student aid last fiscal year, according to BMO. Two years earlier, it was 69 percent.
For-profit schools have proved adept at capturing Pell grants, which are a centerpiece of the Obama…