Raghu writes: "The for-profit "colleges" are outright scams. They are not colleges. They consume 25% of all Federal aid dollars which should be a national scandal, but I don't see David Shemano even bother to make a distinction between these and real colleges. The latter for all their faults at least provide a real education."
Can we agree that these for-profit scams, consuming 25% of federal aid dollars, exist precisely because the government is tossing buckets of money at education, thereby drawing in the scam artists? As Willie Sutton supposedly said why he robs banks, because that's where the money is. I agree that these "for profits" are, on average, scams. But it is not their "for-profit" status that is the problem. I am surprised a sophisticated leftist would look at "Joe's Vocational School" and Harvard and say one is for-profit because one has shareholders and the other is not for-profit one does not have shareholders. Harvard is a money-making machine. The fact that the profits don't go to shareholders, but instead go to administrator salaries, nicer faculty lounges, more real estate acquisitions, etc. doesn't change that it is very profitable, and it is profiting from the buckets of money provided by the government no differently than Joe's Vocational School. David Shemano _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
