Home > Uncategorized > More Than 1,250,000,000 Reasons to Tighten Regulations Affecting For-Profit Education

More Than 1,250,000,000 Reasons to Tighten Regulations Affecting For-Profit Education

The lead story in today’s NYTimes is the sorry tale of the ability of for-profit post secondary schools continued receipt of federal funds despite their fraudulent behavior. How much money went to the schools who fleeced students? Well one of the “bad actors”, Corinthian College, received $1,250,000,000 in federal funds last year…. $125,000,000 more than was budgeted for learning centers in public schools and more than four times the amount budgeted for SIG grants designed to help struggling K-12 schools. The article rehashes all of the wrongdoing on the part of these for profit entities, who defend themselves by claiming that no charges have been brought against them. My reaction to this report was summarized in the comment I left:

For profit deregulated schools… what could go wrong?
What we’re seeing at the post-secondary level is a larger scale of looting than we’ve witnessed in K-12 education, but the market-driven reforms in K-12 have encouraged the proliferation of for-profit deregulated charters and resulted in an increase in cheating behaviors at the administrative level as jobs are rated based on test scores.

We have now repeatedly witnessed what goes wrong when profit is introduced into public enterprise. When will we fix the problem? Maybe when money is as far removed from politics as possible.

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