GI Bill Funds Wasted on Substandard Colleges, Investigation Finds

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 (Scott Olson/Getty Images)

In 2008, Congress passed a new GI Bill that, for the first time since World War II, promised to pay the full cost of a college education for veterans. But a report by the Center for Investigative Reporting finds that more than $600 million of that money has been spent on California schools that have graduation rates so low, or loan-default rates so high, that they don't meet state standards for aid. The report contends that the GI Bill is pouring money into for-profit colleges that often leave veterans with worthless degrees and few job prospects.


Aaron Glantz, veterans reporter at The Center for Investigative Reporting and author of "The War Comes Home: Washington's Battle Against America's Veterans"

Keith Boylan, deputy secretary of veteran services for the California Department of Veteran Affairs

Mark Brenner, chief of staff at the Apollo Education Group, the parent company of University of Phoenix