re: Barack Obama cracks down on for-profit colleges: Why do it this way?

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And that is the true problem. There is no scrutiny in the dispensation of federal loan checks.

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Indeed. If a person wants to open his own business and get a loan to buy a hot dog stand, he'll need several years worth of tax returns, a business plan, credit checks, collateral, and a dog and pony show for the bank. But if you want a PhD. in women's studies, here's a check for $250k.