Inspector General Says Financial Data on For-Profits Makes Oversight ‘Nearly Impossible’

By Goldie Blumenstyk. For-profit colleges rely heavily on federal grants and loans for their revenues, but a new report by the U.S. Department of Education’s Office of Inspector General says the financial information those colleges give to the department is generally not useful enough for it to know how much of those billions of dollars are being spent on marketing, compared with instruction or other purposes. Read more...