Aug 3, 2012
How the For-Profit Education Business Is a Complete Taxpayer Rip-Off
From AlterNet by Andrew Leonard
The AlterNet article linked to below, was written in response to a scathing report released by Senator Tom Harkin this past week. The committee reporting on the private college scam, was particularly critical of Corinthian Colleges, Inc. which is a known and important ALEC member, sitting upon their Education task force. Corinthian Executive VP is also the Chair of the Accrediting Commission of Career Schools and Colleges (ACCSC), the “Commission” that determine accreditation of public/private schools.
The links and ties to and from ALEC to Corinthian and the ACCSC quite clearly shows how the cabal operates and controls the privatization efforts of our entire U.S. education system. Sadly it isn’t just we taxpayers who this is costing – it is our children – who become students in this kind of scam and receive inferior education in exchange for higher tuition’s and exit these privately run “For-Profit colleges” with much larger student debt…
Clearly another huge win for ALEC and their cabal.
Here are some observations from the report characterizing the entire for-profit sector.
- “More than half of the students who enrolled in in those colleges in 2008-9 left without a degree or diploma within a median of 4 months.”
- “In 2010, the for-profit colleges examined employed 35,202 recruiters compared with 3,512 career services staff and 12,452 support services staff …”
- The average compensation for a chief executive officer at a publicly traded for-profit college was $7.3 million in 2009.
- “In 2009-10, the sector received $32 billion, 25 percent of the total Department of Education student aid program funds” — while accounting for only 1 out of 10 post secondary school students.
Find the full Harkin report here and the complete and excellent AlterNet article here.
