Nearly 200 for-profit colleges get over 90% of their funding from the government

The number of for-profit schools receiving at least 90% of their revenue from federal education programs would jump from 17 to nearly 200 when considering all sources of government funding and not just money from the Department of Education, according to a report released Wednesday by that agency.

When factoring in both dollars received from the Department of Education in the form of federal financial aid, like Pell grants and student loans, as well as funds from the Department of Defense and the Department of Veterans Affairs in the form of education benefits for servicemembers and veterans.

The analysis, which is based on a review of the 2013-2014 reported revenues of the for-profit colleges that receive federal financial aid funds, aimed to draw attention to a loophole derided by veterans’ advocates and for-profit college critics that they say incentivizes these schools to lure veterans even when it’s not in their best interest.

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