PROPRIETARY COLLEGES ARE FOR-PROFIT COLLEGES AND UNIVERSITIES. THEY ARE OPERATED BY THEIR OWNERS OR INVESTORS, RATHER THAN A NOT-FOR-PROFIT INSTITUTION, RELIGIOUS ORGANIZATION, OR GOVERNMENT. BECAUSE THEY ARE NOT FUNDED BY TAX MONEY, THEIR LONG-TERM SUSTAINABILITY IS DEPENDENT ON THE VALUE THEY PROVIDE RELATIVE TO THE PERCEIVED VALUE OF A DEGREE FROM A HIGHER EDUCATIONAL INSTITUTION OVERALL. SOME INSTITUTIONS IN THIS CATEGORY ARE REGIONALLY ACCREDITED, WHILE OTHERS MAY NOT BE.