Obama and Former Students Go After For-Profit Colleges

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"The future of the for-profit college industry is looking pretty dismal right about now — and that, many would agree, is generally a good thing." That's the first line of an article in The Atlantic magazine, "The Downfall of For-Profit Colleges."

After investigating the "shady" practices of some for-profit colleges, the Obama Administration is going after their budgets. We hear how loopholes may be closed and talk to an angry former student who refuses to pay back her loans