The Dangers of For-Profit Education

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An attractive, and seemingly affordable, alternative to traditional universities are the for-profit institutions that have gained popularity in recent years. They offer the convenience of community college accessibility with the promise of full degrees. The concept has been around for decades, Devry Institute can trace its roots back to 1931 ("Devry university historical," ), however they truly flourished with the 1992 redefinition by Congress of the 90-10 rule which defined and institution of higher learning for the purposes of government student aid ("Q&A on the," 2012). This change allowed for a new generation of predatory learning institutions that provided low quality education targeted mainly at capturing federal student aid money, particularly from military officers. Over the past twenty one years these institutions have grown and flourished and have attracted traditional students due to their convenience and location. Unfortunately the quality of their programs have not improved. An in-depth study of results showed students of for profit institutions are less likely to complete their bachelor’s degree, leave with higher debt, be much more likely to default on student loans, and less likely to obtain jobs in their field of study as opposed to students at traditional colleges (Demming, Goldin & Katz, 2011). The track record of these institutions has culminated in investigations by both the Consumer Financial Protection Bureau and multiple states to investigate the practices and behaviors of these entities (Armour, 2014). The outcome of these probes will most likely lead to substantial student aid guidelines changes that will lead to the demise of many institutions. Their questionable practices and poor graduate ou... ... middle of paper ... ...3057.pdf U.S. Department of Education, National Center for Education Statistics. (2012). Digest of education statistics, 2012. Retrieved from website: http://nces.ed.gov/programs/digest/d11/ch_3.asp U.S. Department of Education, National Center for Education Statistics. (2012). Tuition costs of colleges and universities. Retrieved from website: https://nces.ed.gov/fastfacts/display.asp?id=76 Vedder, R., Denhart, C., & Robe, J. The Center for College Affordability & Productivity, (2013). Why are recent college graduates underemployed? Retrieved from website: http://centerforcollegeaffordability.org/research/studies/underemployment-of-college-graduates Zickhur, K., & Smith, A. Pew Research Center, Internet & American Life Project. (2013). Home broadband 2013. Retrieved from website: http://pewinternet.org/~/media//Files/Reports/2013/PIP_Broadband 2013_082613.pdf
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