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Report: For-profit colleges cashing in on veterans

By Eric Gorski
AP Education Writer / December 9, 2010

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For-profit college companies take in enormous amounts of federal student aid money by recruiting and enrolling military service members, veterans and their families, with questionable returns, says a new report from a vocal Senate critic of the industry.

The report from Sen. Tom Harkin of Iowa shows how successful for-profit colleges have been in enrolling military personnel and veterans in an era of expanded government benefits. Between 2006 and 2010, Defense Department and Veterans Affairs education benefits received by 20 for-profit education companies increased from $66.6 million to a projected $521.2 million, the report says. Citing low student loan repayments and high dropout rates at for-profit schools in general, the report urges Congress and the two agencies to "act now" to and make sure the programs are not being exploited.

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