No, I don't believe that the Department of Education is making too much profit off of students, nor is it intentionally making ANY profit off of students. While it is true that the U.S. budget gives a massive amount of money to the Department of Education to fund various causes, this money is not hoarded away by the Department, it is used to aid and promote better education throughout the country. A better question would be to ask whether or not the Department of Education is correctly spending their budget, and on what could they improve, because there are vast improvements that could be made which would further help students, not the Department itself.
If there is one thing there is NOT an excess of, it is profit in education. Struggling students bring down numbers and are often shunted to alternate programs to even things out. Or, silly things like "No Child Left Behind" pop up and bog everyone down in mediocrity. The Education Department could use a little stimulus so that perhaps our teachers could actually make decent wages and receive cost of living increases for the work they do with 10-50 students per class for 8 hours a day, plus office hours..