JUDY WOODRUFF:

Next: how funds from the federal G.I. Bill are flowing to for-profit schools, even though, all too frequently, veterans' prospects are not appreciably better after attending them.

The for-profit college sector is under the microscope. The U.S. Department of Education is expected to cut federal aid to schools with high default rates. The federal government and state attorneys general also are investigating marketing and lending practices of some schools. More than $10 billion was spent on the G.I. Bill for veterans' education last year.

Until now, for-profits have netted a growing amount of money from a new generation of vets. In California, nearly two of every three G.I. Bill dollars is spent on for-profit schools.

Aaron Glantz has the story from our partners at the Center for Investigative Reporting.

AARON GLANTZ, The Center for Investigative Reporting: The World War II G.I. Bill, it's one of the most cherished programs in American history. It paid the full cost of an education at any four-year college or university.