For-profit college students learn hard lessons

CBS News
CBS News

NEW YORK - You've seen the ads - "for-profit" colleges often promise credit for life experience and offer convenient online classes. Students are flocking to them. Enrollment in them is up 225 percent over ten years-- to more than 1.8 million students.

But some claim the "for-profits" saddle students with huge debts, and do little to get them jobs. As CBS News chief investigative correspondent Armen Keteyian reports, the federal government today announced it's cracking down on them.

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