After all the ability to successfully deliver outcomes -- be it growth and profit, student results or community benefits -- is the point of nearly every organization.
Mr. Eisman told the committee that about half of all for-profit students dropped out.
The for-profit students also left school with significantly more debt.
"With for-profit students accounting for almost half of all student loan defaults, serious questions have to be raised about the taxpayer investment in these companies," he said.
There is still cause for concern, the report said, because for-profit students graduate with so much more debt than community college students.
"We don't know how many students graduate, how many get jobs, how schools that are not publicly traded spend their Title IV dollars, and how many for-profit students default over the long term," Mr. Harkin said.
Comically, Durbin fails to note that differences in the demographics of for-profit students may also play a role in the higher average debt loads.
But he doesn't stop to ask the question: Does the fact that for-profit students are less likely to have substantial parental resources footing the bill (in comparison with nonprofit private college attendees) play a large role in the debt load differential?
With such heavy debt load, the default rate for for-profit students is simply extraordinary.
In 2010, for-profit students represented 12percentt of all college students but received 25percentt of all federal Pell Grants and loans.
Unsurprisingly, while for-profit students constituted 13percentt of America's college enrollment, they accounted for 47percentt of student loan defaults.
