Education for Profit: Transforming Higher Education

💼For-profit schools like the University of Phoenix are transforming higher education by offering career-focused programs and flexible scheduling options.

💰These schools attract investors like Michael Clifford, who see potential in turning around failing universities and making a profit in the process.

📈The popularity of for-profit schools stems from the high demand for education among working adults looking to improve their job prospects.

🏢For-profit schools often adopt a corporate model, employing shorter-term contracts for teachers and rapidly developing new courses based on market demands.

🎓While the quality of degrees from for-profit schools can vary, many students find satisfaction and success in these institutions, especially in sectors like nursing and business management.

How do for-profit schools differ from traditional colleges?

—For-profit schools operate on a business model, focusing on career training and offering flexible scheduling options. Traditional colleges, on the other hand, tend to have a broader curriculum and a more traditional academic structure.

Are for-profit degrees as valuable as those from traditional colleges?

—The value of a degree, regardless of whether it is from a for-profit or traditional college, ultimately depends on several factors, such as the reputation of the institution and the specific program of study. It's important for students to research potential schools and consider their individual career goals.

Are for-profit schools more expensive than traditional colleges?

—Yes, tuition at for-profit schools can be significantly higher than that of community colleges and even four-year state universities. However, these schools often offer flexible payment options and financial aid to make education more accessible.

Are there any quality standards for for-profit schools?

—While there are no specific quality standards imposed on for-profit schools, some organizations and regulatory bodies monitor and evaluate educational institutions. Students should research accreditation and read reviews from current and former students to assess the quality of a specific school.

What are the benefits of attending a for-profit school?

—For-profit schools can offer several benefits, such as flexible scheduling options, career-focused programs, and the ability to quickly adapt to industry demands. Additionally, some students may find a supportive community and networking opportunities within these institutions.

00:00This video explores the booming business of for-profit education.

03:10Michael Clifford, an educational entrepreneur, is transforming the industry by investing in failing universities and injecting them with capital.

06:25For-profit schools like the University of Phoenix offer career-focused programs and flexible scheduling, attracting working adults seeking to enhance their job prospects.

09:45These schools often adopt a corporate model, employing shorter-term contracts for teachers and rapidly developing new courses.

14:20While the quality of degrees from for-profit schools can vary, many students find value and success in these institutions.

16:50Frequently asked questions include the differences between for-profit and traditional colleges, the value of for-profit degrees, the cost of tuition, quality standards, and the benefits of attending for-profit schools.