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Fraudulent Education

August 4, 2010

A few months ago, I wrote about the possibility of fraud taking place at for-profit schools. The entry can be read here.

Today a new blog entry, here, from the Consumerist details some of the actual fraud taking place.

As we can see, there is a Gresham’s Dynamic taking place in which only financial reps who engage in the fraud are employed. Those who refuse will more than likely be replaced.

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2 Comments leave one →
  1. oliver permalink
    August 7, 2010 6:55 pm

    This is really an interesting phenomenon taking place. Schools and graduates of traditional universities have every right to be concerned and many rights to be downright aggressive and offensive towards these on-line colleges that are capturing an increasing portion of tuition dollars and government money. Although I must say it is more complicated than it seems. The for-profit are not all bad. There needs to be a careful division amongst them, and we also need to look at what some non-profit colleges are doing in response to the increasing presence of non-profits.

    It shakes down like this among the non-profits.
    THE GOOD, quick – no -bullshit technical schools.
    price varies dependent on training / locksmith school is cheap, but the pay is not high and the coursework is not that long, while HVAC school gets a little more, and then you have the compu-schools and ultimately places like DeVry.
    These schools all in all, push out specific job training and students in the upper class percentages do make good money, but its not easy, many programs are quite demanding

    THE BAD, the dreaded University of Phoneix.
    over-priced, poor curriculum, too easy, does not challenge student, only purpose is to make money, everyone from the recruiter on up is in on the profit game, its about turning tables like in the restaurant business, no one gives a shit if your Kaplan MBA, or Walden Phd gets you a job or gets you laughed at. This is exactly the reason accreditation boards need to step in and shut these idiots down. Oh and by the way, Rumors are cheating is rampant and easier than actually completing some of the mindless coursework.

    THE UGLY, your small rural colleges and private universities having extension campuses everywhere and many classes online. To compete with the U of Phoenix, now many smaller institutions have turned to this as their growth model. Many of these advertise the same way and appear to be not that different, sometimes even paying recruiters by commission only.

    What to do?

    There are also some legitimate preconditions for these educational institutions coming on the scene. There are often labor shortfalls of specific technical job requirements in an area. (ie IBM relocates to semi-rural area /compared to major west coast market). Extensive changes in technology require increased technical maintenance workers. State laws demanding public school teachers to carry Masters degrees by some time of tenure. The list goes on.

    Does a geek, a mechanic, and a school teacher all need to be put the traditional university system?
    Maybe we should see that the employers are to blame, not providing these measures in house?

    Whatever it may be. Capitalism is working, and the UGLY so called universities are racing to the bottom to capture their market share. Along with that they have tried to grow their business through aggressive marketing. The aggressive marketing is based “fuzzy math”, lies, and manipulated statistics. When someone tells you their hamburger is better, You know better. When someone tells you that their degree is as good or better, Does the consumer know the difference.

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  1. For-Profit School Infographic « Trung Chatter

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