Back in 1986, the sector only enrolled about 2% of all students; now for-profits have increased its enrollment almost six-fold (CCAP). From the early beginning, there weren't enough places for people to get formal education. As the author of the book Higher Ed Inc., Ruch, describes, clerks took these opportunities to supplement their income by instructing classes in their houses or in the church and charge a fee on practical skills, reading, writing and trades that were not presented in those schools and draw more students (Handfor). They even educated women, people of color and other minorities that got little access to education, but as time passes, their numbers and enrollments were abridged when public high schools extended and amplified their offerings in the business and vocational areas, and so FCS had no choice but to pioneered online studies that permit working professionals to receive additional degrees (Handfor). The FCS that was once an …show more content…
unimportant feature in the portrait of US’s higher education is now an important sketch of the painting and was able to establish themselves as genuine and practicable participants in the postsecondary education ground, all thanks to the jump start of this one word period starting of the year 2007 gave—Recession. Recession has had imperative impact on various faces of post-secondary education.
According to a Princeton and Harvard graduate, Dr. Bridget Terry Long, Ph.D., who is also an academic dean and the Saris Professor of Education and Economics at the Harvard Graduate School of Education, the official dates of the recessions of Great Recession started roughly from December 2007 to June 2009 (Long 13). “Recession” is a period of temporary economic decline during which trade and industrial activity are reduced, resulting with high unemployment rate. Although Recession was one of the most depressing periods of the American history, it allowed Post-recession to give FCS the opportunity to hit the jack pot. A research suggested that the overall effect of the recession has been positive in relations with college enrollments, with the biggest growth was in shorter programs that honor certificates that get finished fewer than two years and large alarming enrollments occurred at community colleges and private colleges (Long
12). A boost in the quantity of college-age students were coming back to school and were interested in FCS that sell attractive accelerated degree programs, especially to those that incorporate online classes and financial aid consultants. Focusing on the rigorously recession-affected states, it is clear that enrollments race at a faster rate at these institutions during the post-recession (Long 17). Even when it is obviously the period of decrease income and increase tuition prices, people would still attend school in hope of getting a degree that would recover their financial situation, and that increased student loans and funds. FCS does take pleasure in much of its income from Federal Education Funds, as over the past 10 years, the amount of Pell Grant Funds gathered by FCS as a whole fattened from $1.4 billion to $8.8 billion (HELP 276). That’s a lot of money to gain within 10 years, but in FCS’ case, it’s not.
While federal-aid helps people like Clifford in their desire to make a fortune, colleges and universities are prevented from receiving what could help achieve their desire to provide valuable education to their students. Although Carey proceeds to advocate his view that for-profits have their place in the market, the benefits—accessibility, speedy degrees, etc.—do not come close to
College is marketed towards students as an essential part of building a successful future. The United States “sells college” to those who are willing to buy into the business (Lee 671). With the massive amounts of student debts acquired every year, and the rising costs of
The Web. 16 Mar. 2014. The 'Standard' of the 'Standard'. http://www.harp.gov/About>. Agricultural Adjustment Administration (AAA). "
... through the years after the Great Depression the Unites States staked a claim in the educational advancement of its citizenship in order to build a strong economy. However, unlike years past, public ownership and support of higher education has decreased in the face of growing inflation and the nations changing economy.
In the midst of the current economic downturn, dubbed the “Great Recession”, it is natural to look for one, singular entity or person to blame. Managers of large banks, professional investors and federal regulators have all been named as potential creators of the recession, with varying degrees of guilt. No matter who is to blame, the fallout from the mistakes that were made that led to the current crisis is clear. According to the Bureau of Labor Statistics, the current unemployment rate is 9.7%, with 9.3 million Americans out of work (Bureau of Labor Statistics). Compared to a normal economic rate of two or three percent, it is clear that the decisions of one group of people have had a profound affect on the lives of millions of Americans. The real blame for this crisis rests on the heads of the managers that attempted to play the financial system through securitization, and forced the American government to “bail out” their companies with taxpayer money. These managers, specifically the managers of AIG and Citigroup, should be subject to extreme pay caps for the length of time that the American taxpayer holds majority holdings in their companies, as a punitive punishment for causing the Great Recession.
Community colleges and vocational tracks are not wrong about the high cost of traditional higher education. According to the U.S. Department of Education’s National Center for Education Statistics, one year at a public, four-year institution costs upwards of $23,000 on average, while private institutions will cost nearly $10,000 more on average. Coupled with the fact that prices at public institutions rose 42 percent and private institutions rose 31 percent between 2001 and 2011, it’s not a shock that parents and students alike worry about paying for college. However, this won’t always be the case, as this rise in prices simply cannot continue the way it has. Eventually, people will be unable to pay the price that colleges charge. They will either settle for com...
The advertisements are everywhere -- on local television stations it is Everest Institute, or Brown Mackie College. On South Florida highway billboards, it is the University of Phoenix. All are selling a quick, convenient college education, and the dream of a better life. In this economy, people are buying, and in the process the schools -- built to make a profit -- are thriving. What is less clear, though, is how much students actually benefit. For-profit colleges, many with night classes and entire degree programs available online, are built to fit seamlessly into the busy life of a working adult.
Every few years, countries experience an economic decline which is commonly referred to as a recession. In recent years the U.S. has been faced with overcoming the most devastating global economic hardships since the Great Depression. This period “a period of declining GDP, accompanied by lower real income and higher unemployment” has been referred to as the Great Recession (McConnell, 2012 p.G-30). This paper will cover the issues which led to the recession, discuss the strategies taken by the Government and Federal Reserve to alleviate the crisis, and look at the future outlook of the U.S. economy. By examining the nation’s economic struggles during this time period (2007-2009), it will conclude that the current macroeconomic situation deals with unemployment, which is a direct result of the recession.
Throughout the years, America has always debated whether education is needed- if it helps people succeed or not. The argument in the past was always over high school education, which is now mandatory. That decision has helped the US rise economically and industrially. Today, the US is in the middle of the same debate- this time, over college. Some, like David Leonhardt, a columnist for the business section of The New York Times, think a college education creates success in any job. Others, such as Christopher Beha, an author and assistant editor of Harper’s Magazine, believe that some college “education” (like that of for-profit schools) is a waste of time, and can even be harmful to students. Each stance on this argument has truth to it, and there is no simple answer to this rising issue in an ever changing nation full of unique people. Any final decision would affect the United States in all factions- especially economically and socially. However, despite the many arguments against college, there is overwhelming proof that college is good for all students, academically or not.
Perez-Pena, R. (2013, July 25). College Enrollment Falls as Economy Recovers. Retrieved from The New York Times: http://www.nytimes.com/2013/07/26/education/in-a-recovering-economy-a-decline-in-college-enrollment.html?pagewanted=all&_r=0
Allan and Davis mention the spike of college cost since 1995 has increased by 150 percent; student debt has increased 300 percent since 2003, and with education, second to the mortgage industry in the nation’s debt, America needs to redirect their attention to the future and focus on education (Allan n. pg). Budget cuts from national to state
What caused the Great Recession that lasted from December 2007 to June 2009 in the United States? The United States a country with abundance of resources from jobs, education, money and power went from one day of economic balance to the next suffering major dimensions crisis. According to the Economic Policy Institute, it all began in 2007 from the credit crisis, which resulted in an 8 trillion dollar housing bubble (n.d.). This said by Economist analysts to attributed to the collapse in the United States. Even today, strong debates continue over major issues caused by the Great Recession in part over the accommodative federal monetary and fiscal policy (Economic Policy Institute, 2013). The Great Recession of 2007 – 2009 enlarges the longest financial crisis since the Great Depression of 1929 – 1932 that damaged the economy.
Fighting the cost of college tuition is a hot topic these days. As long as I can remember, tuition has always been a reason why most people don 't pursue their bachelor’s or even associate degree. Today 's society has changed students are fighting for grants, financial aid, and even loans to pay through school. In order to be financially comfortable in the 15th century a college education is a must. It is an everyday battle getting financial support from a college’s administration. Colleges need to be more affordable, obtaining funds less stressful, and colleges must enact policies that condone these principles.
According to the Bureau of Labor Statistics, college tuition and relevant fees have increased by 893 percent (“College costs and the CPI”). 893 percent is a very daunting percentage considering that it has surpassed the rise in the costs of Medicare, food, and housing. As America is trying to pull out of a recession, many students are looking for higher education so they can attain a gratified job. However, their vision is being stained by the dreadful rise in college costs. College tuition is rising beyond inflation. Such an immense rise in tuition has many serious implications for students; for example, fewer students are attending private colleges, fewer students are staying enrolled in college, and fewer students are working in the fields in which they majored in.
Kahn, Lisa B. 2010. “The Long-Term Labor Market Consequences of Graduating from College in a Bad Economy.”