For-Profit Colleges Boom - Doug Lederman, Inside Higher Ed

The financial data in the Education Department report are far too broad and early (from June 2008) to paint a clear picture of how the economic meltdown is affecting higher education. But the information suggests some early signs of distress and some areas to watch. Public four-year colleges saw the money they took in from state appropriations rise to $52.4 billion in fiscal 2008 from $48.4 billion (of a total of $213.1 billion) in 2007. But the difference between their total revenues and expenses (please don't call it profit) fell from $24.5 billion in 2007 to less than $8 billion in 2008, as their expenses soared to $207.7 billion from $188.9 billion.