Tuesday, May 4, 2010

For-Profit, for Chrissake! Your tax dollars at work

Public TV Takes on For-Profit Colleges (Inside Higher Ed)
Airing tonight on PBS at 9 p.m. is Frontline's College, Inc., an hour-long look at for-profit higher education, its investors, and the U.S. Department of Education's efforts to regulate it. ... It tells stories of students plunging deep into debt and unable to get jobs, touches on traditional academe's criticisms, and looks at the negotiated rule-making process aimed at reining in abuses of the Title IV federal financial aid system, with a particular focus on career colleges.

But it is likely to garner lots of attention -- from ordinary Americans, think tankers and Congressional staffers -- and to stir up press releases, editorials and conversations that will skew against the for-profit institutions just as the Education Department ratchets up its criticisms of the sector. The storyline is more balanced than many major-media examinations of for-profit colleges, but it's still a less-than-favorable depiction of the sector.
At the "Frontline" link, we’re told that
The biggest player in the for-profit sector is the University of Phoenix—now the largest college in the US with total enrollment approaching half a million students. Its revenues of almost $4 billion last year, up 25 percent from 2008, have made it a darling of Wall Street….

[T]he cash cow of the for-profit education industry is the federal government. Though they enroll 10 percent of all post-secondary students, for-profit schools receive almost a quarter of federal financial aid. But Department of Education figures for 2009 show that 44 percent of the students who defaulted within three years of graduation were from for-profit schools, leading to serious questions about one of the key pillars of the profit degree college movement: that their degrees help students boost their earning power. This is a subject of increasing concern to the Obama administration, which, last month, remade the federal student loan program, and is now proposing changes that may make it harder for the for-profit colleges to qualify.
See also: Financial Affairs: TV Documentary on For-Profit Colleges Will Hit Some Nerves—at Times, Rightly So (Chronicle of Higher Education)

You'll recall that, at Irvine Valley College, at least one administrator has urged faculty to allow the U of P to come into their classrooms to make their pitch.

See also: Troubles Grow for a University Built on Profits (NYT)

3 comments:

Anonymous said...

Think about the possibilities for ATEP here. Dump everything ATEP is trying to do now and focus on the homeless shelter and the foster youth population sitting next door. Coat-tail on the IVC accreditation and start processing those student loans. At the appropriate moment turn ATEP into a "for profit" institution and rake in the profits. Of course having at least one program that the homeless and foster youth can graduate from would be appropriate.

Anonymous said...

You're good! An MBA from USC?

Anonymous said...

Hell no!I got my MBA from the University of Phoenix

Roy's obituary in LA Times and Register: "we were lucky to have you while we did"

  This ran in the Sunday December 24, 2023 edition of the Los Angeles Times and the Orange County Register : July 14, 1955 - November 20, 2...