So, I went to one of these "for-profit" schools. It was 2008. I had shitty grades in high school and didn't even really consider myself college-bound at the time. I have always been pretty adverse to the educational environment. But hey! Here was a school of relative renown and very legit facilities for a degree program that appeared to tailor to my strengths. And the only qualifications were that you wanted to go. It's high cost was offset by Sallie Mae, who was more than happy to dish out loans to anyone willing to sign for one. Nevermind that I had a virtually non-existent credit history and my cosigner (dad) was about 8 months away from foreclosure.
The Aston Martin DB7 owned by the school's president, and the yellow Lamborghini Gallardo owned by his son of around my age that were parked out front of the main admin building daily were more representative to the students of a school that was doing well as a result of a huge student body. "For-profit" schools wouldn't be under scrutiny for years later. Also, the churn rate for students was about 40-50% depending on the degree and the loan stipulations were such that if you made it through at least 50% of your classes (by the skin of your teeth most of the time), you were on the hook for 100% of your loans. Shit, I remember going to these 150+ student lectures with serious hoods who had no business being there - but neither did I, really.
I suffered a TBI about 3/4 way into my degree and the result is my dropping out. I know enough to do fine in the industry, but the industry pays shit and mostly hourly. The loans aren't going to get paid. I know this. My dad knows this. Now I'm fighting the system to try to get loan forgiveness as a result of my injury, but not before causing irreparable distress to my poor father who they won't leave the fuck alone. Oh yea, and my brother went to the same school, at the same time, for a degree that cost 50% more than mine. He's in a similar position, although he graduated.
I tell myself that I paid for the networking and for what it's worth, I wouldn't be where I am today if it wasn't for the people I met in college. Of the probably 15-20 people I have kept in contact with from school over the years, there are literally two of them who are doing something directly related to their degrees with success.
The bottom line is Sallie Mae had no business giving me and my brother school loans in the first place, much less 50% of that student body that almost became a punchline among other students who knew they didn't stand a chance. Secondly, because Sallie Mae (well, now Navient - same shit different smell) had no problem dishing enormous loans to subprime candidates, my school could charge ridiculous fees and bank on the fact that they knew damn well that students may only complete a fraction of their programs and the majority of the loan would be straight profit to the school. Admissions would be careful to omit that tidbit, however. My brother and I totally represent at least half of the students who went there, or are there currently and will drop out. Extrapolate that and you have a huge semi-educated and degree-less population in the workforce working to pay minimums on loans for degrees they don't have.
TL;DR Full Sail.