In accordance with Rule XXV of the Standing Rules of the Senate, the U.S. Senate Committee on Health, Education, Labor, and Pensions (the committee) holds legislative jurisdiction over all proposed legislation, messages, petitions, memorials, and other matters relating to education and student loans and grants. Proprietary schools and institutions of higher education, henceforth referred to as for-profit colleges, fall under this jurisdiction both as academic institutions and as eligible recipients of Federal loans and grants provided through Title IV of the Higher Education Act. Senate rules also provide that the committee shall study and review, on a comprehensive basis, matters relating to education. In April 2010, under the leadership of Chairman Tom Harkin, the committee initiated an oversight into the proprietary sector of higher education. The majority staff offers this report to the committee with accompanying minority staff views. Appended are: (1) Definitions; (2) The Committee Investigation; (3) Methodology; (4) The Committee Document Request and Compliance; (5) The Undercover General Accountability Office Recruiting Investigation, Report and Corrections; (6) Responses of Companies to Documents Being Made Public; (7) Fall Enrollment, 2001-2010; (8) OPEID Numbers Controlled by Each of 30 Companies Examined, Fiscal Year 2010; (9) Funds Reported Pursuant to 90/10 Rule by Company, Fiscal Years 2006-10; (10) Estimated Federal Revenues, Fiscal Year 2010; (11) Post 9-11 GI Bill Disbursements to 30 Companies Examined and Cumulative Data; (12) Tuition Assistance and MyCAA Disbursements to 30 Companies and Cumulative Data Fiscal Years 2009 and 2010; (13) Pell Grant Disbursements, Award Year 2007-10; (14) Tuition and Fee Comparison; (15) Retention and Withdrawal; (16) Trial 3-Cohort Default Rates by Company, Fiscal Years 2005-8; (17) Executive Compensation; (18) Revenue, Expenses, and Profit (Operating Income), Fiscal Years 2006-10; (19) Revenue, Profit, (Operating Income), Marketing, Fiscal Year 2009; (20) Per Student Spending on Profit, Fiscal Year 2009; (21) Integrated Postsecondary Education Data System Per Student Spending on Instruction, Fiscal Year 2009; (22) Per Student Spending on Marketing, Recruiting, and Admissions, Fiscal Year 2009; (23) Per Student Spending on Instruction at Comparison Institutions in Other Sectors; (24) Employment Distribution by Company, Fiscal Years 2006-10; and (25) Documents Produced to the Committee. [For Volume 3, see ED538113.]