Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Former NC Community College President Martin Lancaster tells host Barlow Herget that for-profit colleges feed off federal money.  The schools are not cheap with tuition as much as $48,000 and students, even if they default, are still stuck with the loan while colleges get their money up front.