I realize that from your perspective, the world if full of imbeciles ... but just for a second, consider that {insert for-profit college name} is providing a service that people want and that's why people are choosing it.
Those people don't care how the money they are paying is divvied up afterward. Whether it goes into the pocket of some administrator or a sports program at a non-profit institution, or into the pocket of some CEO or shareholder at a for-profit one.
They are getting something they want and that's all they care about.
If we had an education system that as a whole, gave people what they wanted, we would all be better off.