Corinthian Colleges: For-Profit Schools Preying on the Vulnerable While Soaking Up Tax Dollars

janresseger

To really grasp the significance of what is happening to Corinthian Colleges, I urge you to read Suzanne Mettler’s new book, Degrees of Inequality: How the Politics of Higher Education Sabotaged the American Dream.  The book is a broader exploration of the laws that shape policy for colleges and universities, but one of the topics it explores is the explosive growth of for-profit colleges after 2006, when Congress removed the rule that to qualify their students for federal loans, colleges must provide at least 50 percent of a student’s education in person.  In other words, buried in 2006 federal budget, Congress expanded federally backed student loans for colleges that provide 100 percent of a student’s education on-line.

Mettler describes soaring enrollments: “In the next five years after the demise of the 50 percent rule, enrollments nearly doubled in the for-profit sector, and revenues soared… The Apollo’s University of Phoenix…

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