More than 100,000 students have been displaced by the closings of colleges chains since 2015. What's going on with so many for-profit colleges imploding?
For-profit schools tout their flexible degree programs that offer training for practical careers like dental assisting and business administration. But while mainline colleges operate as nonprofits, meaning their income is redirected to their educational offerings, for-profit colleges are tasked with bringing in money.
Those for-profit schools have poorer outcomes than other institutions. They show lower six-year graduation rates than other universities and their alumni are more likely to default on their student loans, according to the Department of Education’s
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