For-Profit Universities Take A Hit As Obama Unveils Free Community College Plan

For-profit universities just can’t get a break. They’ve been sued for predatory lending schemes, outed for the low job and salary prospects they confer to their graduates and lambasted for the high rate at which these same graduates default on their student loans. On Friday, for-profit universities were dealt another blow, this one by the leader of the free world: President Obama announced a plan that would make community colleges free for as many as 9 million qualified students and, in turn, render the for-profit names even less appealing places to send tuition dollars.
Source: Markets