While the Department of Education and the Department of Justice are closing down for-profit colleges and prosecuting their top execs for fraud...

Governor Scott Walker of Wisconsin is proposing to disband the agency that regulates them!  Fortunately, legislators of higher integrity have rejected his proposal.
http://chronicle.com/blogs/ticker/wisconsin-legislature-rejects-governors-plan-to-scrap-for-profit-oversight-agency/99433?cid=pm&utm_source=pm&utm_medium=en

You think the for-profits can be trusted to regulate themselves?  Check out these prior stories I've reported:

http://terrortrials.blogspot.com/2012/08/for-profit-colleges-accused-of.html

http://terrortrials.blogspot.com/2012/04/40-for-profit-colleges-booted-by.html


To quote PBS, "What is clear, however, is that federal regulation, lawsuits and a growing stigma about for-profit education have taken a toll." 

http://www.pbs.org/newshour/updates/beginning-end-profit-colleges/

At the end of the day, the lesson is clear:  profits and education just don't mix.  Not at the K-12 level, where charter schools have been immersed in scandals.  And not in higher education, either.