Re: The 112th Congress - The first Orange-American to be elected Speaker
I don't like the voucher system because it's a partial government involvement, it should be total involvement or none. It'll eventually get corrupted by business and politicians like the housing/college ed market.
We know what happened to housing market with government implied guarantees and the new exotic business model. same thing is happening in the for profit private college market, it's been turned into money making scheme.
http://www.dailyfinance.com/story/cr...ales/19532735/
Originally posted by Wol4ine
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We know what happened to housing market with government implied guarantees and the new exotic business model. same thing is happening in the for profit private college market, it's been turned into money making scheme.
http://www.dailyfinance.com/story/cr...ales/19532735/
The key to Bridgepoint's profit is that the government makes $120,000 available to lend to every American that can be put towards their education. If Bridgepoint can get students to take the loans and complete one six-week course, the government will pay the loan amount directly to Bridgepoint. If the student can't repay the loan, the student has to settle up with the government -- Bridgepoint is out of the picture.
The dropout rate is extremely high in this industry. At Apollo Group's (APOL) University of Phoenix subsidiary -- with an enrollment of 400,000, it's the nation's largest for-profit university -- only 18% of students get their degrees in six years. The number drops to 6% at some campuses, and among online students it falls even further to a scant 4%. The many dropouts default on loans "as big as $100,000 for incomplete bachelor's degrees and up to $200,000 for advanced degrees," according to Business Insider.
The dropout rate is extremely high in this industry. At Apollo Group's (APOL) University of Phoenix subsidiary -- with an enrollment of 400,000, it's the nation's largest for-profit university -- only 18% of students get their degrees in six years. The number drops to 6% at some campuses, and among online students it falls even further to a scant 4%. The many dropouts default on loans "as big as $100,000 for incomplete bachelor's degrees and up to $200,000 for advanced degrees," according to Business Insider.
because she was terminally ill, she wouldn't be able to complete the course or repay the loan to take it. My source said that the enrollment adviser decided that Bridgepoint ought not to keep harassing this dying woman to encourage her to sign up for the course, so the sales person blocked her number in Bridgepoint's system. When the enrollment adviser's manager found out about this, the manager issued a reprimand and demanded that the enrollment adviser call this woman and get her to enroll and complete her first class.
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