For-Profit Colleges are Pedagogical Poverty Pimps

[Modern School]

A new report by the Education Trust says that students at for-profit colleges are more likely to drop out and have greater debt than those at public and private non-profit schools. For-profit schools aggressively recruit students, but do little to retain them, with only 22% graduating after six years, compared with 55% at public institutions. 96% of the students who do graduate from for-profit schools are left with large debts, compared with 62% at public schools, and the default rate for these loans is double the rate at public and private non-profit schools, suggesting that the quality of education at these schools is insufficient for graduates to secure well-paying jobs.

Like subprime lenders, for-profit schools prey upon the poor and tend to look the other way and ignore obvious risk factors, accepting anyone who is willing to pay their high tuition and lousy loans.

For more, please see http://modeducation.blogspot.com/2010/12/for-profit-colleges-are-pedagogical.html

[safeinOhio]

1. good point

K&R

[KT2000]

2. there are political tv ads

telling people that the government wants to control who goes to what school and they want people to write their congresspeople about it.
Do you know what that is about? Is it fear of regulations on these thieves?

[jemelanson]

3. Those ads are about the gainful employment rule

http://www.ed.gov/news/press-releases/proposed-rule-links-federal-student-aid-loan-repayment-rates-and-debt-earnings


Proposed Rule Links Federal Student Aid to Loan Repayment Rates and Debt-to-Earnings Levels for Career College Graduates
JULY 23, 2010


The Obama Administration released today its proposed regulations requiring for-profit career colleges to better prepare students for "gainful employment" or risk losing access to federal student aid. The proposed rules seek to protect students from taking on unsustainable debt they cannot repay and to protect taxpayers from high loan default rates.



it is exactly fear of regulations on these for-profit schools that are more concerned about their profit than providing skills or education that allow their students to get gainful employment. Most of these kind of schools provide certificates or "degrees" that are not worth the paper they are printed on. These are not accredited and their certificates and degrees are not accepted...basically diploma mills.

[KT2000]

5. Wow - thank you

the ads make it sound like the government is going to tell people they cannot train for certain jobs. The ads a very misleading. Glad the gov is not going to be a cash cow for these "schools."

Again - thank you for the answer

[Myrina]

4. I completely agree. I used to work for one.

... the CEO and other execs were disgustingly overpaid - vacation houses in S. Fla, trips all over the world, Audi's, Volvo's, mansions ... basically they're committing fraud against the US Gov't by getting these people who have no business pursuing 'higher education' to get federal student loans which get paid directly to the school. A 'diploma' for a 1-year program in 'secretarial science' can cost as much as $30,000, then you get into a work world and find out that the available jobs pay maybe $24,000 a year. These folks get buried under years of debt, paying back loans that ultimately didn't help them in the first place.

It's a freakin' scam and they all need to be investigated and shut down, IMO.