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This is kind of ironic. Because I believe that Trump's business was a scam and you don't, means that I'm the one with too much faith in business.
To put it another way, I believe I'm being scammed in some way almost every time I exchange cash for something. So in that sense, yes, Trump College is a scam. But not any more of a scam than other businesses and products.
Example: I buy my kids drinks that are supposedly 100% juice. It says 100% juice all over the packaging. If you read the label, though, (and this is true for multiple brands) it says the drink contains juice and "natural flavors". That's not 100% juice, and the government doesn't require companies to divulge what these "natural flavors" are. Also, the word "natural" has no legal definition when it comes to food. In other words, ANYTHING could be in there.