Preying on the Promise of Higher Education by Randi Weingarten

[Omaha Steve]

http://www.huffingtonpost.com/randi-weingarten/preying-on-the-promise-of_b_7298880.html

There's a promise we make to the next generation: Graduate from college and you can get ahead. Indeed, recent studies show that college graduates earn $1 million more than high school graduates over their lifetimes.

Yet, as we make this promise, public higher education institutions nationwide are facing a troubling trend of disinvestment. Even with poorly treated adjuncts and other nontenure-track contingent faculty doing the lion's share of teaching at many colleges, tuition costs keep rising. Even with current federal and state student loans and grants, students have been saddled with crippling debt.

And then there's another side of higher education. For-profit colleges are defined by putting profit before the public good, earnings over education, shareholders above students. At these schools -- such as Corinthian Colleges Inc., which filed for bankruptcy this month, and ITT Tech, which is being investigated by the Securities and Exchange Commission for alleged fraud -- students are products, faculty are afraid to tell accreditors the truth about where they work, and taxpayers foot the bill for aggressive marketing that preys on first-generation college students, veterans and students of color.

Funded largely by taxpayers, for-profit colleges get close to 90 percent of their funding from federal aid -- that's more than $30 billion annually. The industry feeds off our noble national goal to ensure higher education is a ladder of opportunity for all who want to climb. However, instead of offering an affordable path to a better tomorrow, they leave students with an uncertain future. Seventy-two percent of these for-profit schools produce graduates who earn less, on average, than high school dropouts.

FULL story at link.

[yeoman6987]

1. If true that we make 1 million more with college degree

Then the 80,000 is a great investment. Of course is that really true? Most likely yes for a good percentage.