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View Diary: Obama administration targets for-profit college debt factories (86 comments)

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  •  I'll all for reining in predatory practices (2+ / 0-)
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    mattc129, catwho

    but degrees even from for-profit diploma mills with lower standards, can STILL have an excellent ROI, depending on the person and the circumstances.

    If the for-profit schools were required to function as screens and admissions officers as well as just sales reps, they could easily apply themselves to detect which persons and which circumstances would be disproportionate to expected earnings.

    I had a Ivy-League bachelors and several incomplete graduate degress from public universities.  I reached a point in my life when I needed a quick-and-dirty Masters asap to qualify for me for the level of hiring suitable to my actual training and skills.  I borrowed $15K, shelled it to the University of Phoenix for a not-terribly-satisfactory year or so, and doubled my salary within a month of getting the diploma.  My ROI was around 9 months.

    So, the cheesy for-profit degree program did what I needed it to do, and I was glad that student loans were available.  

    "The extinction of the human race will come from its inability to EMOTIONALLY comprehend the exponential function." -- Edward Teller

    by lgmcp on Fri Mar 14, 2014 at 09:20:32 AM PDT

    [ Parent ]

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