Other companies that own for-profit colleges also criticized the regulations.

Default rates are rising, especially among those who attended for-profit colleges.

Students who borrow to attend for-profit colleges are especially likely to default.

He is also trying to determine if for-profit colleges misrepresent faculty members' credentials and course content.

A few years after that, in 2007, the then non-profit institution was acquired by a private investor group and turned into a for-profit college.

The hearing was the fifth in a series examining the for-profit college industry.

The city also has several other private for-profit colleges and tutoring programmes.

In fact, 96% of students attending for-profit college apply for federal student loans compared to 13% at community colleges.

During the 2009-2010 school years, for-profit colleges received almost $32 billion in grants and loans provided to students under federal student aid programs.

Some former students claim that for-profit colleges make them feel like they went to the flea market and bought themselves a degree.