The new Post 9/11 G.I. bill, which substantially boosted education benefits for veterans, has been a windfall for large chains of for-profit colleges, according to figures released Thursday by Senate Democrats arguing for tighter regulation of the sector. Data on the first two years of the program show large numbers of veterans — and the government dollars that follow them — going to for-profit chains. Of the $4.4 billion the Department of Veterans Affairs disbursed during the 2010-2011 academic year, $1 billion went to just eight for-profit schools. The top seven recipients were all for-profit institutions.
The largest single share went to the University of Phoenix, which collected $210 million through the program, up from $77 million a year ago. G.I. Bill funds for each of the other eight top for-profits also more than doubled from the previous year.
