Pros And Cons Of For-Profit Colleges In The United States
ENG 103 WP3 Final Draft
11/11/2014
For-profit Colleges in the United States
All around the world education is helping many students by allowing them to learn and expand their knowledge. Having a good education opens not only a vast amount of opportunities for the future, but also experiences that are irreplaceable and worth valuing for an entire lifetime. Education is indeed very essential to a student’s development, because it can use a wide array of mediums to convey a wealth of knowledge. In the United States, students also have complete education system. In order to provide more educational opportunities and promote economy, the government allows merchants to build for-profit colleges that are dominated by making money. When the most primary educational objective moves to money, it will cause many problems. Therefore, people are on both affirmative and negative sides about for-profit colleges. However, facts prove that harmful effects of for-profit colleges outweigh the positives. Hence, the negative effects are gargantuan student loans, low educational quality, and serious …show more content…
In general, people think economic risk is that we stop spending money and young people do not start businesses. At for-profit colleges, students get money through loans, and spend them on colleges. The default rates on loans is 22% for for-profit. It seems like that more than one student cannot pay back loans in every five people (Dayen, 2014). However, these gargantuan loans are from the government and companies. One of the economic effects of for-profit colleges is deficit that means an amount of money is less than expected and required. Therefore, revenue and expenditure will have problems in balance. It is closely related to the living standard of residents because this balance can decide the value of money. Thus, for-profit universities give rise to economic crisis in market and
11/11/2014
For-profit Colleges in the United States
All around the world education is helping many students by allowing them to learn and expand their knowledge. Having a good education opens not only a vast amount of opportunities for the future, but also experiences that are irreplaceable and worth valuing for an entire lifetime. Education is indeed very essential to a student’s development, because it can use a wide array of mediums to convey a wealth of knowledge. In the United States, students also have complete education system. In order to provide more educational opportunities and promote economy, the government allows merchants to build for-profit colleges that are dominated by making money. When the most primary educational objective moves to money, it will cause many problems. Therefore, people are on both affirmative and negative sides about for-profit colleges. However, facts prove that harmful effects of for-profit colleges outweigh the positives. Hence, the negative effects are gargantuan student loans, low educational quality, and serious …show more content…
In general, people think economic risk is that we stop spending money and young people do not start businesses. At for-profit colleges, students get money through loans, and spend them on colleges. The default rates on loans is 22% for for-profit. It seems like that more than one student cannot pay back loans in every five people (Dayen, 2014). However, these gargantuan loans are from the government and companies. One of the economic effects of for-profit colleges is deficit that means an amount of money is less than expected and required. Therefore, revenue and expenditure will have problems in balance. It is closely related to the living standard of residents because this balance can decide the value of money. Thus, for-profit universities give rise to economic crisis in market and