Earlier quoted context omitted.
There is a very big difference between a private university and a for-profit school.
Educate me ;) Seriously, I'd be interested to know what you see the difference is.
For-profit universities ... aren't. They're owned and operated by for-profit companies, the accreditation is usually terrible and in no way comparable to other universities, and they deceive students into thinking they'll be getting something similar to a university degree.
For example, ITT is run by ITT Educational Services Inc
https://finance.yahoo.com/quote/ESI
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What really needs to happen, is the US needs to restrict federal student loans to programs on a whitelist of accreditors (whitelisting the accreditation organization not the program, like ABET for example) as well as restricting organizations calling themselves "institute", "university", etc. as well as giving out "degrees" without matching the whitelist.
I have _no_ problem with the concept of a for-profit university, but they're being allowed to exist with very low standards and it needs to stop.
In fact I think the whole university system needs to tighten it's belt and be made smaller and more elite. Too many people think that ticking a university box is necessary to get a job / to hire a person, especially when so many people get such low quality degrees.
I'm not even railing against soft degrees, but their contents instead. "Liberal Arts" ... if you deconstruct that you can get to the original meaning which might be rephrased something like "the skills necessary to live a free life" which a whole lot of university degrees these days do not do at all.