Military veterans attend a job fair at the University of Phoenix on June 21, 2012. Nationally, the university has received nearly $1 billion from the new GI Bill over the last five years.
The World War II GI Bill sent millions of veterans to school and helped create the American middle class. But under the expanded 2008 GI Bill, billions of dollars are going to for-profit schools -- nearly two of every three dollars spent in California. And many veterans of the wars in Iraq and Afghanistan say those schools are leaving them with worthless degrees and few job prospects. Reporter: Aaron Glantz