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Getting into Career Training Programs, Avoiding Debt from For-Profit Schools

Submitted by Meditec on Sun, 03/04/2018 - 18:10
Getting into Career Training Programs, Avoiding Debt from For-Profit Schools

For-profit schools have long existed in the United States. Due to the lack of guidance and information provided to students about their college choices, many students often enroll in for-profit schools in hopes of getting a leg up in life. While these schools boast an improved quality of education and follow a strict selection process, they are often run like businesses funded by investors and companies with revenue-generation goals. "I've seen a lot of reports for a lot of years about how for-profit schools have pretty much based their incomes on the ability for students to get federal financial aid," says Matt Warner, a student at the online Western Governors University. Did you know the University of Phoenix ranked as the top advertiser on Google by spending a whopping $400,000 on advertisements each day? This is just one example that indicates how revenue-driven for-profit schools lure students and give them false hope. It is important to understand that they spend almost 23% of their entire budget on advertisements and marketing strategies rather than dedicating the funds towards offering better quality education.

Reasons to Avoid For-Profit Schools

For-profit colleges have long been questioned for their high costs and low quality of education. Let’s take a look at the three most important reasons to avoid enrolling in a for-profit school:

1.     Higher Tuition Fees

As per the data provided by College Board, for-profit schools charged full-time students an average of $16,000 for the term 2016-2017. Comparing this against $3,520 charged by public schools from full-time, in-state students for a two-year degree and $9,650 for a four-year degree, for-profit schools are up to two to five times more expensive.

2.     Low Graduation Rate

“For-profits proudly claim to be models of access in higher education because they willingly open their doors to disadvantaged, underprepared students.” said José L. Cruz, vice president of the Education Trust. “But we must ask the question, ‘Access to what?’ ” According to the data released by the Department of Education for 2015, only 32% out of all students enrolled in a for-profit school successfully graduated. Students are seen to drop out of such institutions due to reasons such as lack of support services, below average teachers, and ever-increasing tuition costs.

3.     Low Chances of You Landing a Job

Time and again, for-profit schools have been criticized for offering false data when it comes to boasting about the so-called high rates of employment amongst their students. Even worse, the 2011 National Bureau of Economic Research paper noted that students attending for-profit schools are likely to remain unemployed for as much as six years after enrolling in a program in such schools. Furthermore, the 2016 National Bureau of Economic Research paper indicated that ungraduated students enrolled in for-profit schools are noted to earn less than they did before enrolling in a program. The reasons for avoiding for-profit schools are endless. In addition, they have faced severe criticism over the past few years over high rate of debt amongst their students.

For-Profit Schools Promote High Loans & Debt

High tuition costs, low employment rates, and lack of opportunities all lead to students to rely on loans to complete their education and put up with their daily expenses. Students enrolled in for-profit schools take on more debt than students at other schools. The 2015 National Center for Education Statistics data has shown that 77% of all students attending for-profits during the school year 2012-2013 took out student loans compared with 49% of their peers at other schools.

Career Training Programs – A Better Alternate

Career-training programs receive comparatively little attention than for-profit schools due to the conventional belief that private schools represent the elite sector and therefore, offer its students better opportunities. Designed specifically for individuals looking to complete their education-related goals in the shortest amount of time, career training schools help prepare students for a specific career path. Join a career-training program by choosing from hundreds of prestigious online training schools offering an extensive range of programs. Set-up an account with the school of your choice, take advantage of online payments, and enjoy having access to your course within just a few minutes. Online career training programs are the best option for millions of Americans looking to pursue a professional degree and advanced career training from the comfort of their home. Best-suited for students juggling among jobs, family commitments, and pursuing a degree, online career training programs offer the same quality of education as any reputable institution with increased flexibility and lower costs.