Reply #7: There is a major distinction to be made

[Sen. Walter Sobchak]

While there are programs at public universities that are completely worthless and perfectly reputable for-profit schools, there is a class of for-profit school that exists only to fleece the federal student loan program and offers programs of absolutely zero value that leave students with an inextricable debt, no better prospects and laughs all the way to wallstreet.

There are major problems with higher education such as for-profit schools that have simply bought accreditation to real universities that have basically become diploma mills through sham programs like "Executive MBA's" - but this is an issue all on its own and should really be more of a criminal matter than a legislative one. It is a felony for businesses to defraud the United States Small Business Administration. Why aren't there felony prosecutions for these sham schools that exist only to defraud Student Aid? It is even more repulsive because their direct victims are saddled with mortgage sized debts no matter what.