In 2015, the collapse of the behemoth Corinthian Colleges, which had been taking in up to $1.4 billion in federal dollars annually, and the subsequent collapse of the giant ITT Tech cost taxpayers hundreds of millions of dollars and left thousands of students with enormous student loan debt and no degree or diploma to show for it.
Corinthian and ITT Tech are the tip of the iceberg where for-profit postsecondary educational institutions are concerned. There has been a well-documented pattern of abuse by these institutions going back over a decade.
