Ya’ll, let me break down the for-profit college grift for ya.
I had one for a client once.
It’s a super simple con.
1/
I had one for a client once.
It’s a super simple con.
1/
For-profit universities market themselves as super-flexible ways for people to go back to school to get degrees.
That’s mostly true... but there are a couple catches.
2/
That’s mostly true... but there are a couple catches.
2/
Most of their enrollees would have to spend upwards of 8 years juggling work and classes to reach the finish line...
...and if they somehow do, they often find out there is no new job waiting for them - and no jump in pay big enough to pay their debt.
3/
...and if they somehow do, they often find out there is no new job waiting for them - and no jump in pay big enough to pay their debt.
3/
Most for-profit university enrollees bail after a couple semesters.
They pay good money for a few credits and come away with nothing to show for it.
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They pay good money for a few credits and come away with nothing to show for it.
4/
The real winner is the for-profit university though...
The government actually pays them to take on students who qualify for federal education money.
The government writes the for-profit uni checks.
5/
The government actually pays them to take on students who qualify for federal education money.
The government writes the for-profit uni checks.
5/
The entire for-profit university system exists to basically shift federal money into private pockets.
Every student eligible for federal reimbursement is just a walking bag of cash for the university.
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Every student eligible for federal reimbursement is just a walking bag of cash for the university.
6/
It has always been a pretty simple grift...
...but then the Obama Admin came along and threatened to screw up the whole thing.
7/
...but then the Obama Admin came along and threatened to screw up the whole thing.
7/
The Obama Admin started going after for-profit universities for lying about what their degrees were really worth...
...and they started making noise about choking off the gravy train for schools that didn’t actually produce any value.
8/
...and they started making noise about choking off the gravy train for schools that didn’t actually produce any value.
8/
The for-profit university world would have either collapsed or been forced to actually get better if we had stayed the course.
Betsy DeVos ain’t interested in education though.
She’s interested in PROFITING from education.
9/
Betsy DeVos ain’t interested in education though.
She’s interested in PROFITING from education.
9/
DeVos basically gave the grifters the green light to keep on soaking taxpayers at the expense of students.
She inherited a situation where a greedy money-grab was about to face its day of reckoning.
Instead, she canceled the reckoning and gave the pillagers a pass.
10/
She inherited a situation where a greedy money-grab was about to face its day of reckoning.
Instead, she canceled the reckoning and gave the pillagers a pass.
10/
Betsy DeVos’ has acted to *literally* thwart improvements to education.
She has moved to protect the system that lures hardworking people into classrooms to shake money out of their pockets.
It’s Trump University... with taxpayers paying some of the tuition.
11/
She has moved to protect the system that lures hardworking people into classrooms to shake money out of their pockets.
It’s Trump University... with taxpayers paying some of the tuition.
11/
Hard to convey how crass this all is...
DeVos is helping for-profit universities fleece people trying to improve their lives...
...because they aren’t the customer.
They’re the product.
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DeVos is helping for-profit universities fleece people trying to improve their lives...
...because they aren’t the customer.
They’re the product.
12/
For-profit universities don’t get paid to educate. They get paid on attendance.
If hapless students come away with nothing but more bills, hey, that’s not Betsy’s problem.
In fact, that’s kinda the plan.
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If hapless students come away with nothing but more bills, hey, that’s not Betsy’s problem.
In fact, that’s kinda the plan.
<end>
