It's not just "for profits". The current graduation rate in the California State University System is abysmal. In fact, it's so bad, the data is really difficult to find. The most recent studies that can be found related to retention rates date back to 2005. This means kids are checking into college, taking out loans to pay for them and very quickly dropping out, because they either couldn't handle to curriculum, or they just couldn't hack the effort.
It's a crime what has been done to the minds of young people today. College isn't for everyone. It shouldn't be. Community Colleges can provide skills training the is completely sufficient for someone to go out and live a successful, productive and lucrative life. Instead, the message is, get a college degree, or suffer. BS.
And one more rant. Why does it take 5-6 years now to complete a degree? Because it's been designed to rip off the students, and feather the beds of tenured professors, and greedy administrators.