… I wouldn’t be too interested in hiring someone who went to school at the mall…. or online for that matter. You’re much more likely to get a well paying job and have a more successful future if you go to a real face-to-face school with a campus not located next to Old Navy.
A commenter makes the obvious point about cheesy for-profit schools, one of which is now the object of a class action suit from some of its students, who claim it took their money and taught them nothing.
The owner of the school, “[n]oting that she is African-American, …said she finds the lawsuit offensive.”
I hope her lawyer can come up with something better than that.
June 15th, 2011 at 5:22AM
How about cheesy not-for-profit schools? Courtney Munna’s sad story is in the NY Times: http://www.nytimes.com/2010/05/29/your-money/student-loans/29money.html and there are lots of others. I’m not convinced that the right split is profit versus nonprofit: if you go to a for-profit school and learn welding, your financial future is good. If you go to a not-for-profit and learn something which ends in “…Studies”, you are hosed.
I’m not saying that the for-profit schools are not often abusive, but I think there have been serene assumptions of good outcomes for more education which have worked out for many of those who take on loans.
What to do? Make student loans dischargeable in bankruptcy, that would be a kick in the … guts … for those who lend on foolish educational programs, and realign their incentives with the students’ ultimate interests.