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‘Phenomenally saddening’: inside the sordid world of America’s for-profit colleges
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The new documentary Fail State, executive produced by Dan Rather, tells the 50-year tale of profit-driven colleges scamming society’s most vulnerableIn 2014, film-maker Alex Shebanow read about Corinthian Colleges, one of America’s largest for-profit college companies, while working on a documentary about student loan debt.Relying heavily on federal student loans, from which it took $1.4bn in yearly revenue, Corinthian was on the brink of collapse after the department of education halted the company’s flow of federal funding due to evidence of rampant fraud in its reporting of grades and job placements. Continue reading...