Manny, you asked for context, however your graduation rate lacks such. The graduation rate which you brandished counts only a very small percentage of that school's students. 16% of entering freshmen graduate with their degree from university of phoenix. However by far most students going to such a school start at other schools (actually a number of traditional universities have also complained that the federal government doesn't track this information).
I do agree that they are relatively expensive as they are the cheapest private school in san antonio (which generally puts you slightly more expensive than the most expensive public school in the area), but this is why I think the proposed federal laws are good, but they have to go for everyone (traditional university as well) since the cost of education in general is completely out of control in all but CCs.
Oh, and having just taken the GMAT, that is not an academic standard, it is testing you on how well you remembered your schooling up to the 8th grade.
THAT is a ripoff industry.