instapundit WALL STREET JOURNAL: Scapegoating For-Profit Colleges: Obama tees up another private industry for …: WALL STREET... http://bit.ly/cwRpXZWSJ:
Operators of for-profit colleges—which tend to teach specific job skills as opposed to offering a liberal arts education—say that singling them out for new restrictions is unfair, and they have a point. It's true that students at these so-called career colleges are more likely to take out larger loans than their nonprofit peers, and that this can contribute to higher default rates. But their tuition is also more expensive, in part because these schools don't receive state aid and have to pay taxes.Is Arne Duncan punishing poor people?
Students at for-profit schools are also more likely to be low-income, racial minorities, single parents, high school dropouts with GEDs, or first-generation college students without parents who can help pay the tuition bill. Studies that control for this "at-risk" student demographic have found that loan default rates at career colleges are comparable to those found at community colleges and historically black schools; neither of the latter would be subject to the new rules.
"Even with this more challenging student population," concludes a study released in March by the Parthenon Group, a consulting firm, "the private sector generates superior education outcomes as evidenced by a 65% graduation rate (compared to only a 44% graduation rate at community colleges)."
...Arne stepping in it lately. And the former head of CPS can't lift up Chicago and Illinois. Race to the top flop. Unions 1, kids zero.
...But I guess he's kinda busy.