[caption id="attachment_36989" align="alignleft" width="150" caption="For-profit schools took in $23 billion in government aid during the 2008-09 school year."][/caption]

A new U.S. Department of Education (ED) report details rising loan default rates among students at for-profit colleges as the for-profit industry – including some of the country’s largest online education programs – fends off government regulations that could limit their federal aid.

About 25 percent of students at for-profit institutions – such as the University of Phoenix and Kaplan University – defaulted on their school loans within three years of starting...

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