This week’s readings really dove into the world of for-profit education. I found this to be especially interesting as I, like many, had the previous tendency to only categorize education into public and private. I had not given for-profit education much thought and I had certainly not realized the far reaching negative effects of turning education into a business.
I found the chapter Education and Research from Nonprofit Nation to have some interesting statistics but I was especially drawn to the section on quality. Studies show that private schools tend to have a more positive educational effect yet receive (in general) less money and lower paid teachers. Makes you wonder what exactly is going on here. I noticed that these statistics are from 1993 and I’m curious if the same trends apply now that private education costs have gone through the roof. Is the “more positive educational effect” of a private university carrying graduates into jobs where they can actually pay back their debts?
The short article from education.com provided a useful overview that simplified the for-profit school debate. While it didn’t seem to bring many new ideas to the table I was however interested by the fact that only a very small number of private schools are for-profit. One of the other articles mentioned that enrollment in for-profit colleges had increased by 236 percent from 2008 – 2009 and I had a mental image of massive amounts of unsuspecting students being wronged. While I still find a serious problem here further research shows that many for-profit schools have actually had recent declines in enrollment.
http://southtownstar.suntimes.com/business/3258261-420/company-enrollment-phoenix-percent-rules.html
The above link is one example a for-profit school having decreasing enrollment. Hopefully it’s a trend and not just an exception.
The article titled Fed Up at the University of Phoenix was absolutely infuriating. Besides providing non quality education to people trying to better themselves they are also the top recipient of federal financial aid dollars. That means that University of Phoenix students are not only wasting their own money they are wasting all of our money. On top of this, federal loans to University of Phoenix students are guaranteed. That’s just ridiculous. I strongly believe that these loans should be more regulated. If the process of applying to these loans required including examples of what you want to do with your degree it would force potential students to look further into the worth of the degree they were actually attempting to receive.
The Subprime Opportunity article was once again infuriating. The foreclosed futures section of this reading was especially upsetting. As student loan debt is not dischargeable in bankruptcy, the attendance of a seemingly accredited online college can be a mistake that will literally haunt you for a lifetime. Keep in mind this is whether or not you graduate.
The article from ConsumerAffairs.com was once again upsetting (SURPRISE). I did however really agree with the U.S. Department of Education’s proposed regulation that would cut off federal financing to programs that have high debt-to-income ratios and low repayment rates. This action would help students out in the long run, keeping them from wasting money, and perhaps push certain for-profit schools to improve the quality of their education.
Asia,
ReplyDeleteThanks for your post. As with you, I was angered by most of the articles. Its frustrating to know of the unethical practices that are taking place in persuit of a profit. Especially when it involves education and our futures. I like your suggestion of completing an educational plan/career path when applying for loans. Specifically, how will this specific degree from this specific school get you to where you want to be. Thats a great idea!
Hey Asia, sorry my response to your post is so late!
ReplyDeleteI agree that for-profit education has been infuriating me since reading the assigned articles. I mean, a single digit graduation rate?
I enjoyed reading your link because I like to see that these schools are being punished for the negative things they have done.
Asia,
ReplyDeleteI'm glad that you included the link to the article about University of Phoenix enrolling going down the final three months of last year. What's sad is that in the article it states that UofP made their profit goals though by instituting "selective" tuition increases. I wonder what that means. Who did they raise tuition on? How much did they raise tuition? Their tuition is already so high I can't imagine getting a note in the mail saying that my tuition is going up.
I hope that their enrollment has gone down because people are starting to realize that they are a scam and that they're doing more research into their post-secondary education options. I know that community colleges and four year public universities have opened up enrollment quite a bit in the past couple of years because of the recession. I'm hoping that people are using these options and the dip in enrollment for UofP is not an aberration.
Asia,
ReplyDeleteYour post makes a lot of great points about private education. My dad is turning 50 this May and he hasn't finished off his loans to USC yet. I don't know about you, but that sounds incredibly unappealing to me. It seems like quite a gamble to invest tens if not hundreds of thousands of dollars in to a degree that may or may not be able to provide one with an adequate living.
In response to Andrew's post, I agree that community colleges are positively impacting the education system by allowing students to complete GE credits at an affordable price. As far as public four-year schools, however, the UC system in California experienced a 32 percent tuition increase and astronomically low admission rates. A degree is becoming harder to obtain, and more essential to success.