I profoundly disagree with this:
“There’s a lot of higher education that won’t get you a job – arts, philosophy, and do so forth. Unless an institution is engaged in fraud, there’s little reason to pick specifically on for-profit institutions. We should really be asking tough questions about higher education finances in general. Maybe we should have rules barring financial aid for degrees that have horrible job prospects (see here). My goal isn’t to discourage able and committed people from college. Instead, I would like to see some sort of cost-benefit analysis added to the way that we charge people for education.”
Education is not job training. If one agrees with the idea that it is, then, we only need vocational programs and the heck with general education. Let’s have students who leave college with technical skills in various fields, but no education.
There is value in programs with “horrible job prospects”. There is value in philosophy, the arts, general science for people not considering science careers. Sure, if “value” only means values = job, then, ok, these programs have very limited value. If, on the other hand, one considers value = education for citizenry, one recognizes that programs with horrible job prospects matter.