For Profit Private Colleges Rake In Federal Aid
Associated Press analysis shows surging proportions of low-income students and increases in federal financial aid are ending up at for-profit schools. Last year, the five institutions that received the most Pell Grant dollars were all for-profit colleges, collecting over $1 billion among them. In the first quarter after the maximum Pell Grant was increased last July, the government paid out 45% more than during the same period a year ago. But the amount of dollars heading to for-profit, or “proprietary,” schools is up 67%. (Boston Globe, 11/29/09).