According to the Wall Street Journal, nonprofit and government schools of higher education have better default rates than the for-profit schools:
Students who took out government loans to pay for their education at for-profit colleges had a 21% default rate in the first three years they were required to make payments, about three times the level of four-year public and nonprofit institutions, according to a Wall Street Journal analysis of government data scheduled for release Monday.
It appears that for-profit schools are essentially evil and self-surving. As noted in the article:
The disclosure of the new default rates comes as the Department of Education has proposed rules to restrict recruitment practices at all colleges. Major for-profit schools, some of which have multimillion-dollar advertising budgets, have been accused of using aggressive marketing tactics. Critics allege the high defaults occur because schools enroll unqualified students who get little benefit from the education and therefore can't pay back the government.
I for one am heartened to know that only forprofits enroll unqualified students. Hm....