Although for-profit schools claim to provide a great service to those who are looking for a way to pursue a degree and launch a rewarding career, critics maintain that these schools may be focusing more on profits than they are on education. Furthermore, critics worry that these schools are specifically targeting those students who are the most vulnerable, such as those who are already in a great amount of debt or those who simply do not make enough money to pay back their student loans.

As the recession continues to loom, the number of people who are heading back to school is also increasing. In fact, the New York Times reports that the number of students who have enrolled in for-profit colleges over the past 10 years has increase by 61%. In contrast, the number of students enrolled in the State University of New York has increased by only 15% during that same period of time.

“The for-profits are concentrating 100 percent of their effort on teaching students what they want to be taught, when they want to be taught,” says Richard Vedder, who is the director of the Center for College Affordability and Productivity, in the article. Some of the programs that are typically offered by these for-profit programs include criminal justice, nursing and information technology.

By offering flexible scheduling, including night and weekend classes, it is easy to see why for-profit schools are so appealing to many people who are looking to make a career change. At the same time, it is important to remember that for-profit schools generally are not cheap to attend. Unlike public institutions, these schools generally are not supported by the government and they do not receive donations from alumni. In fact, the College Board reports that 60% of those who earned a degree from a for-profit college in four years were in $30,000 debt by the time they graduated. By contrast, only about 20% of those who attended a public institution were in the same amount of debt. The College Board also found that a greater percentage of students attending for profit colleges default on their loans when compared to those who attend private schools.
“With community colleges, you probably aren’t taking on huge amounts of student debt, so your life isn’t ruined even if you fail out,” says Stephen Burd, who is the editor of the New America Foundation’s Higher Ed Watch blog, in the New York Times article. “But people who drop out of for-profit schools can end up in a nightmare situation with a huge amount of debt.”
So, what is the bottom line? Quite simply, for-profit colleges can offer excellent educational opportunities. Before deciding where you will attend school, however, be certain to explore all of your options in order to be certain you are making the right choice for you.