For-Profit Colleges

The Truth behind For-Profit Education

Prepared by Luke Woitalla

Director of Student Academics for MNSCU Colleges and Universities

Report Distributed April 23rd, 2014

Prepared for

All MNSCU Students

ABSTRACT

This paper investigates the facts of For-Profit colleges and Universities. This paper explores the hidden costs, education quality, scams, accreditation, and other issues associated with For-Profit Education. For-Profit education can appear to be very appealing for non-traditional students: Adults seeking an online format, unguided Veterans, and students that have been turned down by traditional “Brick and Mortar” universities. The biggest problem that I hope to address with this paper is the lack of education that prospective students have on these institutions. After performing a great deal of research, I was able to conclude that for most students, for-profit education tends to be a poor investment. After (or if) students earn their degrees, they tend to finish with higher debt, and lower job prospects than most students with degrees from traditional public and private universities.

TABLE OF CONTENTS

ABSTRACT…………………………………………………………………………………….. iii

EXECUTIVE SUMMARY……………………………………………………………………. 1

INTRODUCTION……………………………………………………………………………... 2

FOR-PROFIT COLLEGES EXPLAINED…………………………………………………….. 2

Problem 1: Seductive Marketing………………………………………………….... 3

problem 2: unfair targeting………………………………………………………… 3

Problem 3: questionable ACCREDITATION………………………………………... 4

PROBLEM 4: EXCESSIVE COST…………………………………………………………….. 4

Conclusions and recommendationS……………………………………………… 5

Works cited………………………………………………………………………………… 7

EXECUTIVE SUMMARY

This report highlights the pitfalls of for-profit education. The purpose of this report is to provide students and prospective students guidance and caution when choosing colleges, and specifically for-profit colleges.

On May 7th, 2014, the board of directors of MNSCU asked...