According to University Word News, the discussion both for and against the for-profit college sector reform funding continues to heat up. The hub of the current argument stems around the latest regulation proposals intended to rain in abuse of the federal financial aid program. For –profit colleges enroll about 10% of college students in the United States. They receive 23 percent of federal loans and grants. Their students default on loans at higher rates.
Senator Tom Harkin, Chairman of the Health, Education, Labor and Pensions Committee began a series of hearings on for-profit schools. He heard hundreds of stories from students who reported being aggressively recruited and misled by for-profit schools about their career and salary potential. Some witnesses indicated that students had been told to buy illegitimate high school diplomas. Students often end up without a job and with overwhelming debt.
A young divorced mother enrolled in a program to become an ultrasound sonographer. After she completed the program, New York state officials informed her that the program in which she was enrolled was not accredited; therefore she could not sit for a state certification exam or get a job. She now has $15,000 in federal student loans.
In another case, students enrolled in an eight-month course in medical assisting. As they completed their course, they learned that no community or four year college would allow their credits to transfer. Also the American Association for Medical Assistants informed the graduates of the course that they would not recognize their degree. Local hospitals would not interview the graduates.
One witness at the Senate hearings described for-profit colleges as the educational equivalent of the subprime mortgage market.
Both President Obama and Education Secretary Arne Duncan assert that the probing into private and for-profit universities is for the greater good of education in the US, with the goals being a universal measure of “value” that will be able to be applied to higher-education institutions of all types, public, corporate or independent.
All colleges should disclose their graduation, job placement and drop out rates. Areas of fraud and abuses must be eliminated. Misleading advertising must stop.Students should receive clear information about the entire cost of classes and the debt they will incur.
Students trying to better themselves and improve their futures deserve more.
Posted By: Paul Adams
Wednesday, July 7th 2010 at 11:49AM
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