As if 'non-profit' schools haven't also profited tremendously from the market-distorting effect of federally guaranteed loans...? Only instead of the profit going to a capital investor, it goes to administrators and tenured faculty. The only question is who on campus has the power to seek and collect the profit – a shareholder, a dean, a faculty committee, a bondholder. It's not as if non-profit schools are run more efficiently than for-profits; if anything, the opposite.
The tension here is between education as a charitable endeavor (ie, Shakespeare enriches your soul) and education as a profitable endeavor (ie, credentialing, placement, job preparation). It is true that for-profits tend to emphasize the latter, but fewer and fewer non-profits are emphasizing the former.