For many months now, bloggers like Historiann, Roxie's World, and Clio Bluestocking have been sounding the alarm about the creep of the for-profit model into higher education, to the detriment of actual, well, education. Today, Historiann has a discussion on last night's PBS/Frontline special, "College, inc."
I work at a four-year public university that serves a population made up primarily of working-class first-generation college students and non-traditional students returning to school -- the same demographic that these for-profits are going after, to the detriment of these already vulnerable groups. I encourage you to watch the video, then take part in the discussion over at Historiann's place.
Considering the giant smoking crater that the profit-driven mentality has blown in the national and global economy in the last years, I'm not convinced that the "business model" is the best direction for something as important as education.