Voir Dan Rather Reports, Season 8 - Episode 16

(6/4/2013) An in depth investigation into the business of for-profit colleges. Schools like ITT Technical Institute, DeVry University and University of Phoenix differ from schools such as Penn State or USC because they actually treat education as a business - teaching students while still turning a profit. And, while most people may be aware that these colleges are for-profit, what they probably don’t know is that most of these profits come from the federal government in the form of federal student loans and Pell Grants -- money that the Government gives to low income students. But what happens if the student drops out -- which 50% of students at for-profit colleges do? The school keeps the money and the student is often saddled with a high interest loan of many tens of thousands of dollars.