Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow the For-Profit Education Business Is a Complete Taxpayer Rip-Off
http://www.alternet.org/education/how-profit-education-business-complete-taxpayer-rip***SNIP
Another neat tidbit from the report. Many of the schools in the Corinthian network are accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC). The current chair of the ACCSC is the executive vice president for operations at . Corinthian. Tidy!
Here are some other observations from the report characterizing the entire for-profit sector.
More than half of the students who enrolled in in those colleges in 2008-9 left without a degree or diploma within a median of 4 months.
In 2010, the for-profit colleges examined employed 35,202 recruiters compared with 3,512 career services staff and 12,452 support services staff
The average compensation for a chief executive officer at a publicly traded for-profit college was $7.3 million in 2009.
In 2009-10, the sector received $32 billion, 25 percent of the total Department of Education student aid program funds while accounting for only 1 out of 10 post secondary school students.
Theres only one conclusion you can come to: Theres nothing unclear about the story. For-profit schools which generate at least 80 percent of their revenue from government student loans represent a huge waste of taxpayer money.
Nonetheless, the report does argue that for-profit colleges have an important role to play in higher education because the existing capacity of nonprofit and public higher education is insufficient to satisfy the growing demand for higher education, particularly in an era of drastic cutbacks in State funding for higher education.
The report calls for a realignment of incentives that would tie federal funding to student outcomes. Schools with high dropout and default rates would no longer be eligible for government aid. Higher education watchers applaud such goals. But perhaps the most depressing part of the report at least judging by the executive summary is that there is no mention that recent efforts by the Obama administration to crack down on for-profit abuses have been watered down by lobbyists and blocked in court.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
2 replies, 983 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (7)
ReplyReply to this post
2 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
How the For-Profit Education Business Is a Complete Taxpayer Rip-Off (Original Post)
xchrom
Aug 2012
OP
ellenfl
(8,660 posts)1. kick for later. eom
ellenfl
(8,660 posts)2. what's not to understand about 'for profit'? i just don't get how the repubs make everyone believe
that for-profit will be cheaper.
ellen fl