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"I know medical assistants who are making 68, $69,000 a year, and they only went to school for...

"I know medical assistants who are making 68, $69,000 a year, and they only went to school for nine months." That's one of the bogus claims admissions officers use routinely at for-profit colleges, revealed by a devastating government investigation. BPI -8.4%, CECO -8%, COCO -7%, APOL -4.7%, CPLA -4.2%.
Comments (9)
  • eggfaced
    , contributor
    Comments (293) | Send Message
     
    This whole industry is a scam enabled by the government with their subsidies and backing of student loans. They all have horrible graduation rates and use recruitment tactics similar to ARM mortgages.
    5 Aug 2010, 03:30 PM Reply Like
  • woollyB
    , contributor
    Comments (1019) | Send Message
     
    I don't doubt that some of these schools have done great things for some of their students. But for the most part, it's probably not a great idea to borrow money to get one of these diplomas. It's not that different than all colleges and grad schools: people don't do a lot of homework when everyone just knows that more education is always better and you can get started right away by signing those loan docs.

     

    The crazy thing is that now we "need" government intervention to protect these hapless consumers from the dangers that were created by the government driven tuition bubble. Thanks, Sallie Mae!
    5 Aug 2010, 03:39 PM Reply Like
  • DagnyTaggart
    , contributor
    Comments (486) | Send Message
     
    Once again, con-men making subprime loans to people who are not intelligent enough to have access to credit (or higher education, for that matter). And, once again the Federal government is the enabler.
    5 Aug 2010, 03:35 PM Reply Like
  • Arnbjorn Ingimundarson, CFA
    , contributor
    Comments (187) | Send Message
     
    I suspect that many students graduating from traditional and more respected schools are also finding that their diplomas are worth less than had been promised.
    5 Aug 2010, 03:45 PM Reply Like
  • Gary Jakacky
    , contributor
    Comments (2414) | Send Message
     
    These degree mills place students in on-line classes with 30-40 students each, paying thousands of dollars per course, while paying part time adjuncts about $900-1100 tota, to teach the courses, l with no benefits. Check out AXIA college as an example...U of Phoenix is a scam school to even be allow them to be affiliated.
    5 Aug 2010, 03:49 PM Reply Like
  • coloneldebugger
    , contributor
    Comments (890) | Send Message
     
    you're saying quality colleges don't normally recruit by setting up a card table outside the front door the deli in an office building?

     

    if that's how you choose your college, no, you're not a phoenix.
    5 Aug 2010, 03:59 PM Reply Like
  • new slang
    , contributor
    Comments (163) | Send Message
     
    Eisman was calling this
    5 Aug 2010, 04:02 PM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    I'm glad I haven't been long in this industry. Looks like more easy money on the short side.
    5 Aug 2010, 04:09 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    APOL was under investigation for accounting "practices" a couple years ago, then all of a sudden it all just "went away". Those stocks are soiled with corruption IMO.
    5 Aug 2010, 05:41 PM Reply Like
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