You guessed it, UoP! In 2012-13, Phoenix took in a whopping $272 million in GI Bill money! A distant second was EMC at $163 million, third was ITT at $161 million.
In response, Senator Harkin and the HELP Committee fired another shot in the war on for-profit schools. First, as documented by Janet Lorin in Bloomberg, "For-profit colleges accounted for eight of the top 10 recipients of education benefits for U.S. military veterans in the 2012-2013 academic year, according to a Senate report. About $1.7 billion of Post-9/11 GI Bill funds went to for-profit schools that year, more than double the $640 million for the 2009-2010 year."
Harkin noted, “While the Post-9/11 G.I. Bill was designed to expand educational opportunities for our veterans and servicemembers, I fear that it is expanding the coffers of the big corporations running these schools rather than preparing our servicemembers and veterans for post-military employment.”
Since GI Bill monies are not part of the 90/10 equation (the funding balance that requires for-profit colleges to get no more than 90% of their revenues from Title IV federal student aid), is it any wonder UPX aggressively recruits servicemen and women?
Interestingly, the VA does have a stipulation (so-called 85% rule), but this applies to the student body, not funding--no more than 85% of a program's students may receive VA funding.
How long until HELP works to include GI Bill funds in the 90/10 rule? Will there be a push to roll the 90/10 rule back to the previous 85/15 level--and what would either of these moves mean for the wealth transfer mechanism of UoP?
Link: http://www.bloomberg.com/news/2014-07-30/for-profit-colleges-lead-top-recipients-of-gi-bill-funds.html?cmpid=msnmoney