Harkin report on for-profit colleges

http://washingtonpolicywatch.org/2012/07/31/senate-report-rips-for-profit-college-industry/



But a scathing report (summary) released yesterday by the office of Iowa Senator Tom Harkin reveals how unscrupulous practices and lax oversight have resulted in a for-profit education industry that seems more concerned with turning a profit than educating students.

Harkin’s report is the result of a 2-year Senate inquiry into the operation of the for-profit education industry, with plenty of eyebrow-raising findings. Here are the highlights lowlights:

• Large numbers of students fail to earn degrees from for-profit colleges – with associate degree programs averaging a 64% dropout rate.
• For-profit colleges spent an average of 23% of their total budget on marketing, 19% on profit, and 17% on instruction.
• Most for-profit colleges charge higher tuition than comparable public colleges, with associate and certificate programs averaging about four times the cost of such programs at community colleges.