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kallend

Another for-profit college scam exposed

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Hi John,

Quote

for-profit colleges



I see these ads on tv quite often. I have yet to understand how anyone can think that they can get a job in the medical field in 6 weeks of correspondence school.

They will be lucky to be mopping the floors in the hospital hallway.

IMO a decent education is not attainable without a lot of hard work.

Jerry Baumchen

PS) Now what was it Barnum said?

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I spent a winter working for a college whose management saw for-profit colleges as a good model (as in -- they told us so). We spent our time cold-calling or lukewarm-calling people who might be interested in our "computer learning institute." This was 1981.

The model was not to pay attention to whether they could actually complete the work, just to enroll them. That was my only metric. We would find financial aid for them, or set them up with generally-unrealistic payment plans.

I sucked at the job; finally was able to quit. The college went out of business for financial mismanagement within a couple of years.

I see no value in this model. The needs of the college were put above the needs of the student.

Wendy P.
There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

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Iago

There's nothing wrong with the concept. Where it breaks down is when the interests of the school (profit) conflict with the interests of the student (being properly prepared to do the job.)



Well, you see it as the concept breaking down but to be quite honest I see a lot of evidence that actually, it is the concept.

Oh, and the best part? While the company goes bankrupt while being sued by the Government for corrupt business practices, the taxpayer ends up bailing out the students who were shafted and the executives who perpetrated the fraud get to waltz away with their multi-million dollar salaries and bonuses happily padding their bank accounts.

Lovely system. Brilliant system. A lot of people say it's the best system! A lot of CEOs say that, anyway.
Do you want to have an ideagasm?

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Iago

***
This time it's DeVry:

www.chicagotribune.com/business/ct-devry-ftc-settlement-1217-biz-20161216-story.html

But our new Secretary of Education will, no doubt, be their savior.



There's nothing wrong with the concept. Where it breaks down is when the interests of the school (profit) conflict with the interests of the student (being properly prepared to do the job.)

At that point it becomes an assembly line with a poor quality product.

I think there are some state schools that might fit that description as well.
Please don't dent the planet.

Destinations by Roxanne

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jakee

***There's nothing wrong with the concept. Where it breaks down is when the interests of the school (profit) conflict with the interests of the student (being properly prepared to do the job.)



Well, you see it as the concept breaking down but to be quite honest I see a lot of evidence that actually, it is the concept.

Oh, and the best part? While the company goes bankrupt while being sued by the Government for corrupt business practices, the taxpayer ends up bailing out the students who were shafted and the executives who perpetrated the fraud get to waltz away with their multi-million dollar salaries and bonuses happily padding their bank accounts.

Lovely system. Brilliant system. A lot of people say it's the best system! A lot of CEOs say that, anyway.

Well the students getting bailed out would actually be a first, as I don't recall it happening with students going to any private/public universities. You can't even declare bankruptcy to get out of paying student loans.

More to this specific situation though, while I'd like to dogpile on DeVry, it seems though that it really isn't so bad with it's big history and many programs that have produced many successful people. Happy to be proven wrong though. I wonder about the career success of those that went to the recently bankrupt long standing ITT Tech as well (real data as opposed to their self reported data).

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