|Vice President, Western Region, Workforce Solutions/University of Phoenix, Chuck Parker, President, Irvine Valley College, Dr. Glenn R. Roquemore|
Irvine Valley College Signs Memorandum of Understanding with University of Phoenix
Irvine – Irvine Valley College (IVC) administration, faculty and staff held a formal signing of a Memorandum of Understanding (MOU) with the University of Phoenix, Inc. (University) on Wednesday, August 20, 2014.IVC students get 10% off Phoenix tuition, which is way pricey.
Irvine Valley College President Glenn Roquemore said, “This partnership will expand the many transfer opportunities available to the IVC students and staff. One of the major benefits of the MOU is the tuition discount."
Irvine Valley College students transferring to University of Phoenix into an undergraduate baccalaureate degree program … will be considered as having satisfied the general education requirements for the breadth of the liberal arts degree program….
Evidently, President Roquemore is not aware that entities such as the U of Phoenix exist to make huge profits by taking advantage of students who typically receive federally insured loans, putting them in serious debt. Those students, upon graduating, typically fail to find the work they were expecting and often default on their loans, forcing the taxpayer to pay. (It's a massive bubble that, one day, will pop.)
You’re fine with all that, are you Glenn? You're a Republican, aren't you? Yeah. I see you smiling with those vets you claim to love!
Alas, the "predatory for-profits" problem is especially egregious in the case of Vets, who pay their way via the new GI Bill:
GI Bill funds failing for-profit California colleges
An Enemy In Common? The Case Against For-Profit Colleges
Over the last five years, more than $600 million in college assistance for Iraq and Afghanistan veterans has been spent on California schools so substandard that they have failed to qualify for state financial aid.
The ever-clueless Glenn R
As a result, the GI Bill — designed to help veterans live the American dream — is supporting for-profit companies that spend lavishly on marketing but can leave veterans with worthless degrees and few job prospects, The Center for Investigative Reporting found.
. . .
Financial records analyzed by CIR show that California is the national epicenter of this problem, with nearly 2 out of every 3 GI Bill dollars going to for-profit colleges.
The University of Phoenix in San Diego outdistances its peers. Since 2009, the campus has received $95 million in GI Bill funds. That's more than any brick-and-mortar campus in America, more than the entire 10-campus University of California system and all UC extension programs combined.
. . .
The school's large share of GI Bill funding reflects more than just the number of veterans enrolling. The programs are expensive. An associate degree costs $395 a credit, for instance — nearly 10 times the cost at a public community college.
The University of Phoenix won't say how many of its veterans graduate or find jobs, but the overall graduation rate at its San Diego campus is less than 15 percent, according to the U.S. Department of Education, and more than a quarter of students default on their loans within three years of leaving school.
Those figures fall short of the minimum standards set by the California Student Aid Commission, which dispenses state financial aid. The commission considers either a graduation rate lower than 30 percent or a loan default rate of more than 15.5 percent clear indicators of a substandard education.
No such restrictions govern GI Bill funds. And nearly 300 California schools that received GI Bill money either were barred from receiving state financial aid at least once in the past four years or operated without accreditation, CIR has found.
. . .
Of the $1.5 billion in GI Bill funds spent on tuition and fees in California since 2009, CIR found that more than 40 percent — $638 million —went to schools that have failed the state financial aid standard at least once in the past four years.
Four of those schools were University of Phoenix campuses, which together took in $225 million….
(Cognoscenti [NPR Boston])
… As Americans, we should all be concerned that veterans are being taken advantage of by unscrupulous profiteers. As taxpayers, we should be aware that we are paying for this disservice. Approximately 85-95 percent of the for-profits’ revenue comes from taxpayer-supported benefits….
([Senator] Harkin newsletter)
…Senator Harkin's HELP Committee investigation found:
. . .
- Most for-profit colleges charge much higher tuition than comparable programs at community colleges and flagship State public universities. The investigation found Associate degree and certificate programs averaged four times the cost of degree programs at comparable community colleges. Bachelor's degree programs averaged 20 percent more than the cost of analogous programs at flagship public universities despite the credits being largely non-transferrable.
- Because 96 percent of students starting a for-profit college take federal student loans to attend a for-profit college (compared to 13 percent at community colleges), nearly all students who leave have student loan debt, even when they don't have a degree or diploma or increased earning power.
- Students who attended a for-profit college accounted for 47 percent of all Federal student loan defaults in 2008 and 2009. More than 1 in 5 students enrolling in a for-profit college-22 percent-default within 3 years of entering repayment on their student loans....