The for profit schools do well during a recession that last a couple of years because they lure in the suckers (oops students!) to enter the "booming XYZ field" with XYZ being IT, medical, legal etc. If the recession doesn't end in a couple of years and turns out to be a depression like today theh the for profit schools have a rough time. After 4 or more years of graduates being worse off financially burdened with unserviceable student loan debt and unemployable then the word gets out that going to college especially a for profit trade school is a very poor investment.
To make matters worse, substantially BETTER and LOW or even FREE public educational resources exist be it either the local community college or state university are available. At least in California if you are in need of financial assistance then you are able to go to the community college for FREE.
If that was not bad enough then most professional or office jobs now require a BS degree. Even the "lowly" medical assistant is likely to have a BS degree and a standalone AA degree is pretty much worthless in getting your foot in the door for a "professional" career.
The for profit trade schools have pretty much abandoned their "employee relationships" (using Heald's words) because of the poor quality of the graduates. With regards to Heald, many employers have abandoned their relationship with Heald because of the poor student quality.