For Profit Colleges Are A Scam

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9. It is obscene that farmers make a profit on

the food they provide to hungry people.

It is obscene for automakers to make a profit on providing transportation to those needing to get to work

It is obscene for energy companies to make a profit for providing energy to cold people

It is obscene for contractors to make a profit for providing housing to those without homes

I am not saying that many for profits are not a rip off, but making a profit by providing the capital and management to provide a service is not obscene in of itself. The profit motive and the ability of for profit institutions to move beyond the inertia of established institutions has merit. Lets say a particular trade (for example auto mechanic) requires an expensive piece of machinery to teach a skill. Until the public institutions get themselves together to provide that service, the only way to provide the service is for investors to buy that equipment and offer the training. They have risked their capital on this training, and they should receive some profit for it (otherwise we might as well be the old Soviet Union).

Moving forward beinig a non-profit is no guarantee of quality (Liberty University ring a bell). Also being a public institution is no guarantee of quality (read this article about Chicago State University)
http://www.washingtonmonthly.com/college_guide/feature/college_dropout_factories.php?page=1

A simple starting point would be to award student loan aid based on the default rate of the major and institution.