For-profit college default rate spikes; industry hits back

Carrie Lukas, a blogger for the Independent Women’s Forum, defined the government regulations as an “attack on business” that could further damage a hurting economy.

“Profit has motivated some of our most important education breakthroughs and created numerous companies that have helped millions get an education. What’s the problem with that?” Lukas wrote. “The attack on for-profit colleges is yet another misguided government attempt to control what choices people have. It should be none of their business how any education institution compensates recruiters or how valuable the education provided is, so long as no one is committing fraud.”

Nonprofit and public colleges have largely escaped public criticism, Lukas wrote, despite rising default rates and pricey tuitions at some of the most esteemed institutions in the country.

“It seems a bizarre distinction that we are supposed to object to some entrepreneur trying to make a buck by teaching clients needed skills, but celebrate supposed nonprofits like Harvard that demand $40k a year from students and shower those dedicated non-profit professors with generous salaries, lifetime employment protection, and a near royal lifestyle,” she wrote.