Editorials & Other Articles

yortsed snacilbuper

(7,939 posts) Tue Jul 31, 2012, 03:00 AM Jul 2012

For-profit schools labeled 'abject failure'

Federal report blasts costs, tactics, graduation rates

Read more: link

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For-profit schools labeled 'abject failure' (Original Post) yortsed snacilbuper Jul 2012 OP

Thanks for posting - an excellent read tjwmason Jul 2012 #1

Instead of hiring teachers, they spend their student's tuition on paying CEOs $40 mil a year. fasttense Jul 2012 #2

Yup, I used to work for one ... Myrina Jul 2012 #3

And you thought your public school taxes were high: lindysalsagal Jul 2012 #4

tjwmason

(14,819 posts)

1. Thanks for posting - an excellent read

Reply to yortsed snacilbuper (Original post)

Tue Jul 31, 2012, 06:43 AM

Jul 2012

We're getting for-profits introduced to the British H.E. sector and pretty much all of these sorts of concerns were raised...sad, but unsurprising, to see them demonstrated by the U.S. experience.

fasttense

(17,301 posts)

2. Instead of hiring teachers, they spend their student's tuition on paying CEOs $40 mil a year.

Reply to yortsed snacilbuper (Original post)

Tue Jul 31, 2012, 08:06 AM

Jul 2012

The 38% who manage to graduate can hardly pay back their student loans while the CEOs of these corporate colleges are making $40 million a year.

Don't use these for profit colleges. They are a scam.

Myrina

(12,296 posts)

3. Yup, I used to work for one ...

Reply to fasttense (Reply #2)

Tue Jul 31, 2012, 09:22 AM

Jul 2012

... it was a travesty.

They're just another way corporations use low income/low educated folks to scam the system ... convince them they too can 'get a better life' with this easy degree/online classes ... then they get the students to take max financial aid. The school keeps most of it for 'fees' and the students end up with a job no better than what they'd get with a high school diploma AND $40k in student loan debt, which then gets passed on to the rest of us when they default.

Shut 'em down.

lindysalsagal

(20,730 posts)

4. And you thought your public school taxes were high:

Reply to yortsed snacilbuper (Original post)

Tue Jul 31, 2012, 01:39 PM

Jul 2012

On average, they spend 17 percent of their budgets on instruction, 42 percent on marketing and profit, and 41 percent on other expenses, including executive compensation packages that run as high as $40 million a year.

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