"The reality is, we are a very affluent country, we have loose borders, and we have a bad education system," said Shayn March, the vice president and treasurer of the Geo Group. "And all that adds up to a significant amount of correctional needs, which, thankfully, we've been able to help the country out with and states with by providing a lower cost solution."

The previously unreported remarks were made during a presentation at the Barclays High Yield Bond & Syndicated Loan conference in June.

While students and activists have protested private prison corporations, scoring a recent victory last week with the decision by the University of California system to divest from firms like Geo Group and Corrections Corporation of America, the firms have largely avoided the spotlight.