Synopsis

Executive produced by news legend Dan Rather, Fail State investigates the dark side of American higher education, chronicling decades of policy decisions in Washington DC that have given rise to a powerful and highly-predatory for-profit college industry. With echoes of the subprime mortgage crisis, the film lays bare how for-profit colleges exploited millions of low-income and minority students, leaving them with worthless degrees and drowning in student loan debt. Director Alexander Shebanow traces the rise, fall, and resurgence of the for-profit college industry, uncovering their Wall Street backing and incestuous relationship with the regulators and lawmakers charged with overseeing them.