For-profit colleges operate under the so-called “90/10 Rule,” which states that a school can’t receive more than 90% of its revenue from the federal government. However, there’s a loophole that does not count certain military-related education funds — like the GI Bill — against that 90%, meaning these schools can go over that 90% threshold without violating the 90/10 Rule. And according to a new report, hundreds of for-profit schools are indeed getting nearly every dollar of their funding from taxpayers. [More]
