More Americans than ever enroll in college, but the graduates who emerge a few years later indicate that instead of reducing inequality, our system of higher education reinforces it.
The worst problems, though, occur at for-profit schools like those run by the Apollo Group (which owns the University of Phoenix), the Education Management Corporation or Corinthian Colleges. These schools cater to low-income students and veterans, but too often they turn hopes for a better life into the despair of financial ruin.
A good summary of what is going on with for profit colleges
http://opinionator.blogs.nytimes.com/2014/03/01/college-the-great-unleveler/?_php=true&_type=blogs&_r=0
Check out database for default rates. It is truly staggering the amount of wasted money going to Phoenix, ITT, Kaplan, and Devry. It shows how broken our political system is in that we cannot shut this down.
http://www.nslds.ed.gov/nslds_SA/defaultmanagement/search_cohort_3yr2010.cfm