Ouch!, yet sometimes markets work

For-profit colleges are facing a tough test: getting new students to enroll.

New-student enrollments have plunged—in some cases by more than 45%—in recent months, reflecting two factors: Companies have pulled back on aggressive recruiting practices amid criticism over their high student-loan default rates. And many would-be students are questioning the potential pay-off for degrees that can cost considerably more than what’s available at local community colleges.

There is more detail here.  The graphic on the paper version of the article (not on-line) shows that new University of Phoenix enrollment is down over 40 percent from last year, 47 percent from Kaplan.