your wasted federal loan dollars at work in the for-profit education industry @gop

"  The private four-day getaway marked the annual senior executive management seminar of the trade group representing the for-profit college industry -- a sector that derives most of its $30 billion-plus annual revenue from federal funds, in the form of student loans and grants.

Students at for-profit colleges often end up with enormous debt burdens and lean job prospects, resulting in a disproportionate number of student loan defaults. But the scene at this resort tucked into the Sierra Nevada Mountains served as testament to the fact that those running the institutions have fared far better.

Five dozen executives, who flew in on Sunday from states as far afield as Florida, Indiana and Virginia, gathered at the Ritz-Carlton, paying nearly $400 a night. They enjoyed the ski slopes, a spa and cocktail lounges, putting their taxpayer-financed revenues to lavish effect.

They devoted some of their hours to work, plotting political and business strategies in a key election year. Among the distinguished guests was former Senate Majority Leader Trent Lott of Mississippi, who was recently brought on as a lobbyist for the trade group, the Association of Private Sector Colleges and Universities. New rules from the Obama administration aimed at stemming marketing abuses within the industry have impeded growth. The trade group has filed suit in a bid to derail the regulations."

rest at http://www.huffingtonpost.com/2012/02/17/for-profit-college-chiefs-lake-tahoe_n_1283331.html?utm_campaign=021712&utm_medium=email&utm_source=Alert-business&utm_content=FullStory