This editorial appeared in the St. Louis Post-Dispatch on Sunday, April 2, 2017.
A higher education business model targeted in the Obama administration for preying on military veterans, minorities and poor people is poised to get a second life under the new education secretary, Betsy DeVos.
The businesses are for-profit college companies, including Trump University, which racked up enormous student debt that led to exploding default rates. They prey on students who lack the academic credentials to get into public higher education institutions.
For-profit colleges account for about 8 percent of total higher education enrollment but 15 percent of subsidized student loans.
You don’t have to be a math whiz to know that equation’s out of whack. Taxpayers are saddled with bills they shouldn’t have to pay to bail out former students defrauded or misled by the for-profit companies.