Mr. President, I have come to the floor a number of times to talk about a new business in America that has become a major source of income and a major source of Federal subsidy that most people are not aware of. The business I am talking about is the for-profit college. These are schools which are popping up everywhere across my State and across the Nation. You can hardly go to the Internet and put in the word ``college'' or ``university'' that you will not be bombarded by all these for-profit schools that try to entice young people to sign up. Some of them, I am sure, offer valuable courses. But too often these schools offer worthless diplomas. They entice young people into a curriculum that is vastly overpriced, and it turns out these schools they attend and the education they achieve doesn't lead to a job. Here is this young person, all full of hope and idealism, signing up to go in one direction or the other, and they find themselves lured into a school which is, frankly, not much of a school at all. I have seen these cases over and over again. I was just in southern Illinois last weekend and a young girl came up--she was a high school senior, standing there with her mom--and I said: So what is next for you? She said: Well--and I am not going to use the name of the school--I have just been accepted at the XYZ cooking school in St. Louis. I said: Well, that is interesting. How much does it cost?…
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