I work as a recruiter for one of these for-profit colleges
Reader comment on: Senate Hearing on For-Profit Education
Submitted by Paul Chung (United States), Jun 24, 2010 15:34
I work as one of these "recruiters" at a for-profit college. The reason why we have such high churn rate for students is because we slam anyone who are eligible for title IV funds and have a high school degree or GED to take classes at almost $1,200 a five week class. It doesn't matter if they have the competence or aptitude. We'll spend hours with computer illiterate "students" and walk with through the application, FAFSA and a couple courses in addition we'll give out promises of financial aid stipend money and Pell grants to help out with they're living expenses. After they took a couple classes, three to be exact to ensure we get the funds for the government because they're now full-time, we offer very little assistance. Good luck trying to get a hold of a financial or academic adviser to receive help.
Then we get them to degree programs like BA in Criminal Justice, even though they'll never make it to the upper division courses, and if they do, they won't make the money to pay back these loans. Working at one of these places is truly like working at "Boiler Room." We don't care about these students, we just get them in for the number. We celebrate, clap, cheer, whoot and holler for every enrollment. We'll call these prospects five times a day until we get them to enroll. For every student that drops out after a couple classes, we'll enroll new ones in.
Check out the graduation rates. I believe Apollo, who we're modeled after and have been around significantly longer, graduate 5% of their students. Something is wrong here and I hope DOE and Congress cracks down before it's too late.
I don't know Steve Eisman's agenda, but as an employee of a for-profit college, I can concur that these institutions really are cash cows that are morally and socially corrupt. People who post in support of for-profit colleges either or in the pocketbooks of these colleges or have no clue how dirty they really are.
There is a need for distance-adult education. There really is. However the practice in which we enroll students, the amount of money being generated, the abnormal amount of defaults, the low graduation rate, poor job placement as well as through the roof churn rates in both students and employees at theses for-profit colleges, show signs that there are massive abuse going on. There needs to be a different approach. Either drastically lower the amount of tuition being charged by these for-profit colleges or let the traditional colleges handle the need for distance education.
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The Future of Capitalism replies:
So why don't you quit if you think what you are doing is "corrupt"?
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