The Perfect Lobby: How One Industry Captured Washington, DC
Many of America’s for-profit colleges have proven themselves a bad deal for the students lured by their enticing promises—as well as for US taxpayers, who subsidize these institutions with ten of billions annually in federal student aid.
More than half of the students who enroll in for-profit colleges—many of them veterans, single mothers and other low- and middle-income people aiming for jobs like medical technician, diesel mechanic or software coder—drop out within about four months. Many of these colleges have been caught using deceptive advertising and misleading prospective students about program costs and job placement rates. Although the for-profits promise that their programs are affordable, the real cost can be nearly double that of Harvard or Stanford. But the quality of the programs are often weak, so even students who manage to graduate often struggle to find jobs beyond the Office Depot shifts they previously held. The US Department of Education recently reported that 72 percent of the for-profit college programs it analyzed produced graduates who, on average, earned less than high school dropouts.
Today, 13 percent of all college students attend for-profit colleges, on campuses and online—but these institutions account for 47 percent of student loan defaults.........................
Good read and more at - http://www.thenation.com/article/179161/perfect-lobby-how-one-industry-captured-washington-dc
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But, folks those poor for profit colleges are being discriminated against............
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Wicker: ‘Gainful Employment’ Rule Discriminates Vocational Schools, Community Colleges
Snip - “For example, I think the ‘gainful employment’ rule discriminates against for-profit colleges and universities that provide a gateway to the middle class for minorities, veterans, and underserved demographics.
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If a program’s graduates, on average, are above this ratio, then the program is no longer eligible to receive Pell grants or student loans from their students, limiting students’ access and choice.
[what he really means is that the schools wouldn't have access to the government money.]
“I would trust consumers to sort this out over time and choose the best colleges for them – ones that receive quality placement, graduate study, and licensure exam pass rates.”
[LOL, because "free market capitalists" don't lie do they - double snark]
http://www.wicker.senate.gov/public/index.cfm/press-releases?ID=4674a438-b83c-4602-b202-7090de632e1
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The GOP are disgusting - they don't care about education only profit and exploitation.