Shady schools make big bank in recession

[hanselthecaretaker]

In Hard Times, Lured Into Trade School and Debt
by Peter S. Goodman
Monday, March 15, 2010
provided by The New York Times


One fast–growing American industry has become a conspicuous beneficiary of the recession: for–profit colleges and trade schools.

At institutions that train students for careers in areas like health care, computers and food service, enrollments are soaring as people anxious about weak job prospects borrow aggressively to pay tuition that can exceed $30,000 a year.

But the profits have come at substantial taxpayer expense while often delivering dubious benefits to students, according to academics and advocates for greater oversight of financial aid. Critics say many schools exaggerate the value of their degree programs, selling young people on dreams of middle–class wages while setting them up for default on untenable debts, low–wage work and a struggle to avoid poverty. And the schools are harvesting growing federal student aid dollars, including Pell grants awarded to low–income students.

"If these programs keep growing, you're going to wind up with more and more students who are graduating and can't find meaningful employment," said Rafael I. Pardo, a professor at Seattle University School of Law and an expert on educational finance. "They can't generate income needed to pay back their loans, and they're going to end up in financial distress."

Continued here


Sad, such a self serving society we have these days.

 

[binö]

any trade should be learned via a apprenticeship like i went thru.
on the job training plus schooling, best way about it.
good read

 

[bakemeacookie]

Sad, such a self serving society we have these days.

?

The school's job is to teach you skills not get you jobs. When you get unemployed, do you call your university and tell them to get you a job? Does EF teach you how to lose weight and then George goes out and gets you a chick? (that'd be kewl!)

c

 

[redshirt27se]

?

The school's job is to teach you skills not get you jobs. When you get unemployed, do you call your university and tell them to get you a job? Does EF teach you how to lose weight and then George goes out and gets you a chick? (that'd be kewl!)

c

+1

recent grads have always had trouble getting jobs out the gate. this isn't new. it's the whole "how do you get experience if everyone will only hire you if you have it" thing. you bust your ass and keep trying.

 

[Dial_tone]

That's what really wrong with this country. There is always someone all too anxious to take advantage of a situation by doing harm to someone else.

 

[ledhead]

Every institution of higher learning is money making racket! I remember when i was working on my
Bachelor Degree; they made you take courses that didn't even pertain to your major. Parasites
sucking the blood right out people. Now I'm 38 making a decent living, but went back recently to
get a Masters so I can advance at my current job, when it's all said in done I will owe 40,000$.
I need another lifetime to pay it off!

 

[puddlemonkey]

That's what really wrong with this country. There is always someone all too anxious to take advantage of a situation by doing harm to someone else.

predatory lenders 3.. 2..

 

[ceo]

any trade should be learned via a apprenticeship like i went thru.
on the job training plus schooling, best way about it.
good read

that's pretty much how it is bro. In the medical field, there are requirements for clinical hours completed in addition to classes. Can't even grad without the clinicals.

 

[bakemeacookie]

Every institution of higher learning is money making racket! I remember when i was working on my
Bachelor Degree; they made you take courses that didn't even pertain to your major. Parasites
sucking the blood right out people. Now I'm 38 making a decent living, but went back recently to
get a Masters so I can advance at my current job, when it's all said in done I will owe 40,000$.
I need another lifetime to pay it off!

1) go blame companies that want degrees to siphon out the 10,000 people would go apply for a job if you didn't require a degree.

2) Would you want the president of your company, electrician, lawyer or heart surgeon to be merely a high school graduate who learned everything by reading books at home?

3) Would you hire a personal trainer who's finished a course on reading internet fitness articles?

c

 

[puddlemonkey]

That's what really wrong with this country. There is always someone all too anxious to take advantage of a situation by doing harm to someone else.

I think the government should go after these fucking "credit repair" and "debt relief" scammers advertising all over tv and radio. They know people are hurting and they're just looking to bleed them for what little they have left. It's been proven most don't even attempt to do anything, cause legally they can't magically make your debt disappear or reduce it to damn near nil like they claim to. Most of these places just close up shop after a few months and change business names, wash/rinse/repeat.