More Criticism Of For-Profits

The Education Trust, a nonprofit research and advocacy group, has released a report titled “Subprime Opportunity” that points to for-profits as providing “little more than crippling debt” (link here).  Among the allegations:

  • only 22 percent of the first-time, full-time bachelor’s degree students at for-profit colleges over all graduate within six years, compared with 55 percent at public institutions and 65 percent at private nonprofit colleges.
  • only 9 percent of the first-time, full-time bachelor’s degree students at the University of Phoenix, the nation’s largest for-profit college, graduate within six years.
  • Among Phoenix’s online students, only 5 percent graduated within six years, and at the campuses in Cleveland and Wichita, Kan., only 4 percent graduated within six years.

The report did find some good news for for-profit institutions when compared to pulic community colleges.  The for-profits three-year graduation rate of 60 percent beats the 22 percent rate at community colleges.

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