Education isn't a marketplace that supports only schools; it also supports test making companies, and test preparation companies. The founder of the big SAT prep company just passed away: here's an obit from the Chicago Trib. Stanley H. Kaplan, 1919-2009: Founded popular test-prep company.
The Atlantic has this to say. Stanley H. Kaplan's Legacy.
The Chronicle of Higher Ed's story contains this: "And as his business grew, all sorts of other commercial educational interests began to expand their influence on the academy. Today, the higher-education industry includes not only giant for-profit institutions like DeVry University, the University of Phoenix, and the degree-granting colleges of Kaplan itself, but also course-management companies like Blackboard Inc. and eCollege, distance-learning outsourcers like Higher Ed Holdings, and student-coaching and tutoring companies like Inside Track and Smartthinking."
The sending and transmitting and facilitating of signals is a big business, in college admissions as elsewhere. (Indeed, there's a big part of economic theory that looks on a college education itself as a costly signal sent by the teachable...)