I did some research on for-profit colleges and found that the Education department reported that College debt is up to 1 trillion dollars and has surpassed credit card debt. What is interesting is with all of that debt, the President has made it so students payments can be lower compared to their income in hope that there wont be as much default on their loans. In one way this is a good thing for the common people but on the other the debt is not being paid back any faster. The only hope is that students will no longer default on their loans. I think the biggest step towards preventing further debt to accumulate is the government is no longer going to allow schools with high default rates to acquire federal loans. In a news article titled Student-Loan Default Rate Rises as Federal Scrutiny Grows, the authors John Hechinger and Janet Lorin reported that "Under the new three-year measure, colleges with default rates of 30 percent or more for three consecutive years risk losing eligibility for federal financial aid." Which will be extremely beneficial to taxpayers in the future if there is less default on student loans
http://www.businessweek.com/news/2012-09-28/student-loan-defaults-soar-as-government-scrutiny-grow
You might want to shift your focus to the problem of debt, or at least engage with debt as a big factor in why we need to worry about for-profits (most of which are owned by banks). Along the way, you should check out the books The Student Loan Scam by Alan Collinge and Generation Debt by Anya Kamenetz -- both of which emphasize how the financial illiteracy of young people is contributing to the problem.
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