Define very recently and effective for whom. University of Phoenix has been around since 1976 and has been popular with people who didn't have the resources to get into traditional colleges since at least the late 90s. I think with nearly 17 years of success and probably millions of for profit alumni can safely be defined as duped.

I'm not saying anyone should go to the university of phoenix; there are better publicly subsidized options out today, but I do know a handful of people who were partly educated there, who did just fine.