Report: Colleges Take Fed Money for Marketing, Students Buried in Debt
A two-year investigation found for-profit colleges took millions of taxpayer dollars to boost their marketing and profits, even as students dropped out in large numbers because of debt.
The report targeted 30 colleges across the U.S.
Here in Minnesota, it included Rasmussen College, Capella Education of Minneapolis, and Walden LLC, which is an online school based in Minneapolis.
Iowa Senator Tom Harkin led the investigation.
The Star Tribune reports the colleges reviewed in the report out yesterday received about 80 percent of their revenue from federal sources.