A statement from “For-Profit Colleges Deserve Some Respect” that extends the claim of Carey’s that for-profits are not all bad is the statement “For-profit education companies are now in high demand among venture capitalists and investment bankers, and the industry is one of the rare ones that is faring well in this economy”. It is true the these colleges are doing very well in the economy and that they can be very good investments for people trying to make money.
The element of military personel education in “For-Profit Colleges, Vulnerable G.I.’s” extends the claim that aggressive recruiters are persuading students into enter bad situations. For-profit schools try to take advantage of “90/10 rule” by getting service members to enroll in their schools. Funds from Tuition Assistance and the G.I. Bill are not part of the Title VI funds.
The quote, “I now know that something needs to be done after taking out a PARENT PLUS LOAN in the tune of $34,000.00 for my daughter to attend the Art Institute NYC. This was only for one term and I had to travel to New York las weekend to pick her up because I became ineligible for any more loans. I know I was dupped and there is nothing I can do about it. My daughter is depressed and I am angry that these predators can operate like this,” by Janel on the “For-Profit Recruiters and the ‘Pain Funnel’” article in the New York Times accurately illustrates how students are unknowingly trapped in endless amounts of debt that they will never be able to pay off. The horrible part of the situation is that many parents are dragged into the situation as well because they are part of the loans taken out for their children.
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