For-profit colleges and universities represent the fastest-growing but also most controversial sector of private higher education in the United States. Universities like Phoenix, DeVry and Kaplan have helped turn the for-profit sector into a massive revenue generator and the engine for higher education growth. From 1998 to 2008, for-profit enrolment grew by 225%.
Last year, the Obama administration vowed to stop for-profit colleges from luring students with false promises. In an opening volley that shook the $30 billion industry, officials proposed new restrictions to cut off the huge flow of federal aid to unfit programs.
A. Okulicz-Kozaryn. Journal of Happiness Studies, 12 (2):
225-243(2011)First published online: February 11, 2010, http://dx.doi.org/10.1007/s10902-010-9188-8. (Eurobarometer).