For Profit Colleges in the US

Karla - posted on 09/20/2011 ( 4 moms have responded )

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http://theweek.com/article/index/219247/...
For Profit Colleges,
Paraphrasing the article:

According to this article for profit colleges such as University of Phoenix, Kaplan University, and DeVry University do not deliver. Average cost of one year tuition is $31,000 (more than most state schools.) Most students don’t complete degrees. For instance the University of Phoenix graduates less than 9% within 6 years. Former students of for profit colleges now account for half of all defaults in student loans.

In 2009 the CEO of the University of Phoenix took home nearly $42 million, in that year the president of Harvard made less than $700,000.

For profit colleges receive ¾ of their revenue from federal grants and loans. Poor students are targeted because they can get more student grants and loans. A quarter of federal student loan money and a third of Pell Grants no goes to for profit colleges.

The Department of Education approved ne rules blocking federal aid to for profit schools if less than 35% of their former students are paying down their loans. The for profits schools don’t like this.

Your thoughts?

Do you know anyone who has had experience with these colleges or do you have any opinion about the quality of education offered at for profit schools.

If they are targeting poor people to get more grant and student loan money, and are not honest about the cost, and have such a high drop out rate, and their former students do not have better jobs and aren’t paying down their student loans, than these schools and students have contributed greatly to problem of defaulted student loans.

What a colossal waste.

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Pamela - posted on 09/24/2011

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I attend a community college here in Duluth and I appreciate their overall practicality. We're lucky here where I live in that the two main colleges - University of MN and St. Scholastica - accept credits from our community college. They offer a great nursing program (in the hospitals prefer the 2 year degreed RNs because they have tons of clinical experience unlike the 4 year private college here). At least that's what I've heard. Online is hard for some of us (read: me). I am a much more traditional student (probably my age has a little to do with that) and prefer on-site classes. And I think it's really important to look at hire-ability and if online colleges don't offer that, then well, I would think twice about giving them my money.

ME - posted on 09/23/2011

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I went to U of Phoenix for my MSC (Counseling). I thought that the level of education (while easier than U of Colorado, Boulder) was pretty good. I had excellent profs, met lots of great people. However, when we graduated, only the people who'd already had jobs at the start of the program found work. No one wanted to hire the rest of us. They'd had bad experiences with grads in the past, and didn't even give us a shot. It was unbelievably disappointing. I chose it because I already had a 40,000 dollar degree I couldn't do anything with...didn't make much sense to me to get another one of those. I paid less at the U of P, but have had even less luck finding employment. At least I can teach with my Philosophy degree...

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Karla - posted on 09/20/2011

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Tah, I often think that there are good alternatives if people would just call their local colleges and universities. Many of them have programs to help you get a certificate, Assoc, BA, BS or Masters, and at a better price. The non-profit schools don’t use their money to advertise as much as the for profit schools.

Tah - posted on 09/20/2011

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i absolutely agree. i have been shopping online schools because i can finish this Psych degree in about a year to 15 months using what i have in the way of education already and what i am working on now so i wanted shorter class time. I looked into university of phoenix and it was 72,000 if you needed the full 4 years...i almost passed out..esp when they are known to not have a good rate of success and were in trouble before with accrediation. even though i have 3 years of My husbands GI bill i can use i woud not it to just any school without good standing, a good rate of graduation and accrediation because i am going to eventually need my doctorate to have a private practice. I think they should be reprimanded and closely montiored, not taking peoples money that they can be using to reallt further themselves. I am still at the school im at because its cheaper and the material is accepted at all the universities around here, i can eave and go to a university right now and be between junior and senior, but why when the classes are half the price and i can get the same information from teachers who teach at the universiites

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