Enrollment at U of Phoenix Down 42%

It seems that the public is finally becoming educated about the University of Phoenix's mission of generating profits and not simply providing a quality education to its students.  Due to pressure from the federal government about Phoenix's recruiting practices and the fact that it pays its admissions counselors based on the number of students they enroll in classes, enrollment has dropped 42%.   The article states that students are scared away by the institution's low graduation rates and high student loan defaults.  It's about time the federal government took action on these "diploma mills."  As mentioned in one of my earlier blogs, the student loan situation rivals the home foreclosure crisis in terms of the sheer number of people who are mired in debt that they cannot repay.  I'm hoping that all this press and release of information will allow potential students to be more informed before making a very costly decision about pursuing a higher education.  Read about it yourself at http://www.collegescholarships.org/blog/2011/01/12/enrollment-at-the-university-of-phoenix-drops-42-percent/.  Check out the original article at University of Phoenix lays off 700 nationwide | freep.com | Detroit Free Press http://www.freep.com/article/20101130/BUSINESS07/101130017/University-of-Phoenix-lays-off-700-nationwide#ixzz16mt92SUY .

What are your thoughts?  Know anyone who has a degree from a for-profit school that employers will not recognize?   Know anyone who has run up massive student loans?