Prospectus

Prospectus

Three sources:

1.   My dad- he went to university of Phoenix for his masters in accounting. He did not like it at all and would support the argument of the degrading of a degree. What he learned he is not able to use anywhere and is basically useless. Plus it was very expensive for him to get that degree for no reason.

2.   Excerpts from Government Accountability Report on For-Profit Universities- a look into the fraud behind loans and the money making scheme behind for profit universities

3.   Holly Petreaus, “For-Profit Colleges, Vulnerable G.I.’s”- Carey does not go into the details of the ruthlessness of the fact that for profits target military personnel.

Source 2 expanded-

Quotes from Carey-

o   “A quarter of all federal aid goes to for-profits, while they enroll only 10 percent of students”

o   “"90/10 rule," a federal rule that bars for-profits from receiving more than 90 percent of their revenue from federal aid. The fact that the rule exists at all, and that Miller is working to water it down (it used to be the 85/15 rule), shows that for-profits operate in nothing like a subsidy-free market.”

Quotes from Government accountability

·      “campus representatives encouraged the undercover applicants to take out loans and assisted them in becoming eligible either for grants or subsidized loans.”

·      “We also found that for the five associate's degrees we were interested in, tuition at a for-profit college was significantly more than tuition at the closest public college. On average, for the five colleges we visited, it cost between 6 and 13 times more to attend the for-profit college to obtain an associate's degree than a public college.”

This source a mainly factual source that had under cover people test and obtain information provides an example of the money making side behind this universities. How they can make money from students that have nothing and put them in debt for the rest of their life.

Source 3 expanded:

·      - quote from Carey “look no further than the "90/10 rule," a federal rule that bars for-profits from receiving more than 90 percent of their revenue from federal aid. The fact that the rule exists at all, and that Miller is working to water it down (it used to be the 85/15 rule), shows that for-profits operate in nothing like a subsidy-free market..”

·      -quote from Petreaus “A number of these schools focus on members of the armed forces with aggressive and often misleading marketing, and then provide little academic, administrative or counseling support once the students are enrolled.

·      Petreaus addresses how the 10 percent does not even cover the military guaranteed GI and how this is what for profits use as their 10 percent. So more than 890 percent of the money at for profits can be government spending. It is a loop hole in the system.