For profit schools get rich off students
NetworkingStudent
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I go to a private for Profit College, but I wish I would have went to a state funded college. Anyone thinking about going to a profit college such as: ITTech, Rasmussen, DeVry… and so on should read this article.
National American University gets rich from federal loans - Page 1 - News - Minneapolis - City Pages
The worse part is that it's hard to transfer your credits from a profit to a state school, because the credits aren't regionally accredited.
National American University gets rich from federal loans - Page 1 - News - Minneapolis - City Pages
The worse part is that it's hard to transfer your credits from a profit to a state school, because the credits aren't regionally accredited.
When one door closes, another opens; but we often look so long and so regretfully upon the closed door that we do not see the one which has opened."
--Alexander Graham Bell,
American inventor
--Alexander Graham Bell,
American inventor
Comments
Either way, Caveat emptor.
This UK article (and title) sums it up nicely: Times Higher Education - Selling out to get 'asses in classes'
Your local Community College or State Colleges are usually a better and cheaper option. Same with the non-profit online option -- WGU.
After reading this article, I decided to look up various colleges' default rates...click here:
No doubt the numbers are higher as more and more students have enrolled in FY 2009 and FY 2010. National American pretty much takes advantage of students who could not even get into a community college, and probably would not have learned about the nastiness of defaulting a student loan. The fact that these places act with little to no impunity because they spend so much money on a lobby that protects their wealth is disgusting.
At the same time, it makes me wonder if any of us are perhaps in the wrong racket? LOL...makes me think of starting my own college like Accepted.
Just an FYI, Devry, Rasmussen, U of Phoenix, Capella, and a number of other for profits are regionally accredited. And credits can be hard to transfer between state funded schools as well. You're usually better off finishing a degree at one and then enrolling in a higher level program at another school. Just keep in mind that if your goal is to go to Harvard for grad school, you should plan accordingly, because all of the above, and most state schools, will not cut it.
In progress: CPHIMS, CAPM
That said, when I was considering going back to earn my Master's (and ended up selecting WGU) - I still looked at options from both for-profit and non-profit schools. It's good to be aware of the potential pro's and con's of a for-profit or even non-profit school but at the same time I think it's pretty naive to think just because a school is a non-profit that there isn't someone along the line that isn't going to benefit monetarily or would be exempt by default from any negative stigmas associated with some for-profits. Not at all implying you are suggesting that, just clarifying for people who read this that regardless of a schools for-profit or non-profit status - you still need to really do your homework when making a decision.