The Bane and the Boon of For-Profit Colleges

By Eduardo Porter. Marc Jerome, the executive vice president of Monroe College, says his business is being unfairly targeted as corrupt. The graduation rate at Monroe’s two New York campuses, in the Bronx and New Rochelle, is much higher than those at nearby community colleges. More than nine out of 10 of recent graduates tracked by the school in its latest survey either continued their education or found jobs; the survey was responded to by about 70 percent of graduating students, most of whom are low-income blacks and Latinos. And Monroe students have a lower default rate on student loans than the national average for public schools. More...