The Negative Side of For-Profit Colleges
Most of the images shown in the commercials depict college-level students and the desires they possess based on material success. Accordingly, such commercials show that acquiring a college degree is the sole way towards achieving the American Dream for any student. Based on such advertisements, profit-colleges want the target to perceive privatized education and simply, college degrees, as the only key towards achieving occupational accomplishments and achievements. These commercials are highly likely to appeal to undergraduate students and other young and employed individuals seeking to pursue further education in order to gain an advantage in social mobility.
Undeniably, for profit colleges utilize 20 to 25 percent of the whole revenue on promotional campaigns such as advertisements and other marketing forms. Only 10 to 20 percent is used to facilitate learning. I would also allocate a considerable amount of funds towards marketing campaigns. This is because it is highly profitable to gain a large number of students. Federal grants and loans generally profit students since they enable them to enter a sophisticated higher education system. Since for-profit colleges charge significantly for the courses they offer, it becomes virtually impossible for lower-class students to pursue their education. Additionally, for-profit colleges gain when students are required to pay their loans in interest at the end of the maturity period.
Furthermore, graduates find it difficult to pay back their student loans due to factors such as inability to secure high-paying jobs and interest rates that amplify considerably over the years. For-profit schools are partly responsible for the problem due to the exorbitant tuition fees they charge for their courses. As such, they influence students, who are not necessarily rich, to apply for student loans. Consequently, for-profit colleges employ aggressive recruitment and enrollment practices that are highly unethical. However, such institutions rebuff these criticisms by asserting that the recruiters comply with ethical behavior. Anne’s situation is similar to most lower-class students possessing student loans. Most of them are unable to pay back their credit due to the amount of money they receive which is unable to reimburse the due amount.