Jay Mathews, an education columnist and blogger from the Washington Post recently blogged about how for-profit colleges will thrive in our current economy.
Admitting that he is not a huge fan of for-profit schools, Mathews noted that for-profit schools seem destined to become a significant part of what college means in the United States.
Here are Mathews five reasons why for-profit schools will survive:
- For-profit schools are less of a drain on tax dollars than non-profit or public schools. Georgetown University business school researcher Robert J. Shapiro and his felllow economist Nam D. Pham found that for-profit schools receive less than 30 percent of the government financial support per student that public institutions and their students do.
- The public and non-profit private universities that dominate higher education are doing less with their money. They are building luxury dorms, restaurants and athletic facilities which don’t produce more learning or more graduates. In 2007 the United States spent 3.1 percent of its gross domestic product on post-secondary education, twice the 1.5 percent spent by other developed countries that produce more graduates per capita.
- For-profit colleges often have better graduation rates for the same kind of students. U.S. Education Department data show students with two or more key risk factors, such as delayed enrollment, no high school diploma or full-time job, have only a 17 percent chance overall of getting a two-year or four-year degree. Their chances are 24 percent at for-profit schools. That’s not a big improvement, but they are doing it with fewer tax dollars.
- In other industries, the rise of for-profits has sparked great controversy, but not for long. In the 1980s hospitals began to shift from publicly funded or non-profit to privately funded, with much criticism. Today, most of us don’t know or care how the hospitals we visit are financed.
- Aggressive newcomers to higher education have historically been labeled as wasteful, low-quality, hucksters cheating our youth. That was the rap against land-grant colleges and community colleges when they were created. They are now vital parts of our system.
These five reasons Mathews argue ring true to why for-profit schools will float above the rest in our economy.
For-profits schools like Globe University -Woodbury ensure that their students are receiving the highest quality education possible while maintaining small classrooms and personalized hands-on training.
Mathews states (in number three) that for-profit colleges often have better graduation rates for the same kind of students. At Globe University’s Woodbury campus the placement rate for the last year was 81 percent.
“I am very pleased that Globe University-Woodbury campus had another successful academic year helping graduates enter their career field,” said Teresa Dye, Director of Career Services at the Globe University Woodbury campus. “The dedication and hard work from my Career Services team to maintain relationships with graduates and keep them motivated for employment was a key factor our placement rate. In a competitive job market, our graduates need to know their careers are our top priority.”
Personal attention where the students don’t feel like just a number is just one of the key factors for-profit schools like Globe University – Woodbury pride themselves with. For-profit schools do this to ensure our students are receiving the best education so they can get placed in their chosen career fields like the 81 percent that where throughout the last year.
Click on the link below to read Mathews entire blog.