Today, in an economy still reeling from that fraud, a new high-growth industry -- the for-profit higher ed sector -- is hoodwinking vulnerable young people into taking on taxpayer-financed student loans they can't possibly repay.
And now this industry, facing federal regulations that aim to rein in its deceit, is waging a massive media campaign based on the phony premise that Washington wants to make it "harder to get the education" students "need to succeed."
No one is personally profiting more from this for-profit higher ed industry chutzpah than the CEO of the San Diego-based Bridgepoint Education, an enterprise that specializes, of late, in going after returning military veterans. That CEO, Andrew Clark, last year took home $20.5 million.
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