"How did the institution that we would call career college or trade school transform itself into a $32-billion-a-year business? Mainly by "milking" the government for profit, and taking advantage of student-loan programs designed to help those on the bottom of the economic pyramid continue their studies beyond high school. The Apollo Group, which owns the University of Phoenix, derives almost 89 percent of its revenues from the federal government, and Kaplan Higher Education, owned by Graham Holdings (formerly the Washington Post Group), almost 88 percent."