For profit "college" closing up (employment, spokesman, borders)

[florida.bob]

Dept of Ed is doing some good work here.

http://www.buzzfeed.com/mollyhensley...profit-college

[Oldhag1]

Analysts call the Department of Education’s role in the Corinthian collapse unprecedented — and potentially dangerous for the already struggling for-profit college sector.

“This is something that everybody in the sector should be worried about,” said Trace Urdan, a senior analyst with Wells Fargo.

Good. These places charge an outrageous amount for an inferior product. Too many students of these degree printing "institutes" are stuck with almost crippling debt and a piece of paper that many employers deem worthless.

[westhou]

It's about time something is being done to these so called colleges. I'm not sure why anyone would waste their money going to one of these places. It would be so much better for them to go to a community college and then transfer to a state public university.

[Goinback2011]

It's a good thing they're closing, but they need to expand this to all colleges that produce grads who can't get jobs.

[Frank DeForrest]

Corinthian, which gets more than 80 percent of its revenue from federal money,

thus the mediocrity.
All federal money needs to be removed from the education arena.
Education excellence will only be achieved in a truly free market where schools must compete for students whom are spending their own money.

[ntwrkguy1]

Originally Posted by Frank DeForrest

thus the mediocrity.
All federal money needs to be removed from the education arena.
Education excellence will only be achieved in a truly free market where schools must compete for students whom are spending their own money.

Indeed.

We have that issue here in NC, where a couple of the Historically Black Colleges (HBC's) have gotten themselves into trouble for admissions, grad rates, fraud, etc.

The federal money literally just promotes a higher-ed bubble of worthless degrees from substandard "institutes of higher education".

[MaseMan]

Originally Posted by Goinback2011

It's a good thing they're closing, but they need to expand this to all colleges that produce grads who can't get jobs.

I've been saying for a while that colleges and universities should have to give open disclosure if a certain percentage of their graduates (maybe over 50%) are unable to secure a job in their field in less than a year after graduating.

[Toyman at Jewel Lake]

Originally Posted by MaseMan

I've been saying for a while that colleges and universities should have to give open disclosure if a certain percentage of their graduates (maybe over 50%) are unable to secure a job in their field in less than a year after graduating.

I'd take it further, if there are programs or majors at certain colleges where 50% of the grads don't get jobs within a year in their field, stop ALL FEDERAL FUNDING for the program. No student loans or grants for basketweaving programs.

Too bad about the for-profit college shutting down. I wonder how much of that was simply pressure from the various state university systems. Can't have an alternative to our overpriced, under-performing public system now, can we? Hopefully some more of these for profit colleges can fill the hole and provide some competition.

Hopefully the DOE will also start calling for accountability from state and "non-profit" private colleges that get taxpayer dollars. The entire system needs to change.

From the link:

Noah Black, a spokesman for the Association of Private Sector Colleges and
Universities, a lobbying organization for for-profit colleges, said the Department of Education’s actions are an example of the administration’s unfair treatment of for-profit schools, which Black says the administration holds to different standards than community colleges and other public institutions. Black pointed to the government’s work to keep the troubled City College of San Francisco, which had been poised to lose its accreditation, from closing. “But they put Corinthian on a path towards closing,” Black said. “That discrepancy is concerning.”

The lobby group has raised similar issues with the Obama administration’s proposed “gainful employment” regulations, which, if put into effect, would prevent low-performing programs at for-profit colleges from receiving federal funding. It says the rules should apply to all institutions, including public and private universities.

Pretty hard to argue with that. Yet I will lay odds that "public" colleges and universities will ever be held to the same standards.

[theunbrainwashed]

Originally Posted by Frank DeForrest

thus the mediocrity.
All federal money needs to be removed from the education arena.
Education excellence will only be achieved in a truly free market where schools must compete for students whom are spending their own money.

I'm sure it must be nice to go back to the days where us plebeians only had trade school to look forward to, while the elites all went to college and became our bosses. Ah the glory days where everybody knew their place!

Originally Posted by Toyman at Jewel Lake

Too bad about the for-profit college shutting down. I wonder how much of that was simply pressure from the various state university systems. Can't have an alternative to our overpriced, under-performing public system now, can we? Hopefully some more of these for profit colleges can fill the hole and provide some competition.

We can and do have alternatives that provide competition. In case you haven't noticed, there's quite a healthy private education system in this country. In fact many of the best schools on the planet are private institutions located within the borders of the United States.

For-profit degree mills are not competition. They just take taxpayer money and drive desperate people into a pit of debt that they can never climb out of. Why do you want the "alternative to our overpriced, under-performing public system" to be an even more overpriced, even worse performing group of "colleges" that amount to nothing more than student loan scammers?