Gainful Employment

FOR-PROFIT COLLEGES

STUDENTS AT for-profit universities are three times more likely to default on theirgovernment loans than their peers at nonprofit schools. And the graduation rate at four-year for-profits is less than half that of both state and private nonprofits. Moreover, for-profit schools get as much as 90 percent of their income from federal financial-aid programs. But despite that less-than-stellar record, the top executives of the companies that run these schools are very well remunerated indeed. According to the Chronicle of Higher Education, Robert Silberman, CEO of the Strayer Education chain of schools, pocketed $41 .9 million last year - or more than 24 times the …