Senator Harkin wants the company, based in San Diego, to explain its $135 million increase in profit, as its loan default rates rose and more than 60 percent of students who enrolled in the bachelor’s program between 2008 and 2009 withdrew by the summer of 2010, he said in the statement.
“Bridgepoint Education’s growth in both enrollment and profits -- even as their rates of student withdrawals and loan defaults climb -- exemplifies the issues in the for-profit education industry,” Harkin said. “Using Bridgepoint as a case study will help us better understand how the practices of for- profit colleges impact their student’s chances for success.”
I would definitely hire someone from UCLA at a much higher wage than anyone from Ashford if I needed top talent. Imo, 99% of the students at Ashford wouldn't be accepted at UCLA or most top schools. But they have a shot at making themselves qualified for a decent job after Ashford. True many will not make it. But isn't that true with everything in life ?
Consider this situation. If you were an unemployed student with no college degree and needed 20 units more to graduate and couldn't get a job. What do you want that person to do ? Just sit iddly bye and see their years disappear. There are tons of people out there like that now. Obama's recommendation is to get more skills. That means that person needs to go to college. My point is that without bridgepoint that student would still choose to go to a school perhaps a crappy state college, be more in debt (because its more expensive) and still end up with no job. Government would still be footing the bill. The only solution I think you are truly recommending is that people should just not go to college and shoot themselves if they have been unemployed for more than 20 months. Furthermore, we are in the worse recession in history right now. These for profit colleges are getting judged for outcomes that are perhaps worse than what they would be normally. Finally, you must be insane to think that students consider an Ashford degree as good as a Harvard degree. You got to give them a little more credit than that. I think they know its a crappy degree but given the choice they still choose it because it is better than being unemployed, 55, with no college degree.
Sure, when you invest little in physical plant, faculty and offer a weak curriculum of 5 week online classes instead of a standard semester, accept everyone with a pulse (and probably some that don't have one) and extract the maximum government guaranteed financial aid when you know the student is unlikely to succeed, the total cost per student is going to cost less than a traditional legitimate brick and mortar school.
However, you know that when a student decides to come to a school they only look at total tuition - not the split between student contribution and government contribution. If we are going to go down that road, I'd like to compare the total opportunity cost of the college investment - let's include the value of a public education degree versus one from a for profit. It took a few years, but the word is out there among employers that the for profits are a joke and they are tossing out the resumes with those schools on them as they get them - but if a candidate comes in and says to an employer that they went to the University of Virginia, UCLA, Michigan, etc...employers know those programs are not only legitimate, but competitive. Those candidates get the interview.
The all in cost to the UNIVERSITY to attend Ashford may be less, but if the student emerges uneducated, in debt and unable to find a job, I'd say that education was way more costly than a public university education which costs less out of pocket to the student, makes them actually show up,do the work and learn something, is more likely to result in employment in the student's chosen field.
The earlier conversation was regarding tuition costs...not all in costs.
You want the government to approve every single loan application - there like hundreds of thousands a year. That will take forever to happen. Also, the congress led by republicans will likely block funding for that. That's extremely expensive to do. Think of how many government employees now need to vet those loans.
I didn't go to UCLA. I only used that as an example because you are from Calif to highlight the fact that even your own state school is cheaper than Asford....remember you were trying to make the case that Ashford was CHEAPER...Because BPI said it was so....
I try to keep things simple. I know how confused you can get...
Mafia bosses always show up to their senate hearings, does that mean they were not guilty ? Honestly, BPI is also being investigated right now by the state of IOWA. Legally they cannot start disclosing information that might compromise that investigation. If they were guilty then they would not cooperate but they are cooperating.