who owns for-profit diploma mill "The Art Institutes"? Goldman Sachs!

[Hannah Bell]

"Like many investors, Goldman, owner of 38 percent of the Art Institute’s parent, Education Management Corp., was drawn to for-profit colleges by their rapid growth and soaring stock prices, reports Bloomberg Businessweek in its Aug. 9 issue. Now Goldman, which recently agreed to pay $550 million to settle U.S. civil-fraud charges related to the subprime mortgage meltdown, is invested in an industry under attack from Congress, the Obama Administration and dissatisfied students.

Government grants and loans to students, combined with booming enrollment, have made for-profit colleges a rewarding investment. Federal aid to for-profit colleges jumped to $26.5 billion in 2009 from $4.6 billion in 2000, according to the Education Dept. EDMC currently receives almost 82 percent of its revenue from federal financial aid programs."

http://perdidostreetschool.blogspot.com/


Tell me again how education privatization isn't about funneling money to the financial sector.

[geardaddy]

1. For profit schools

I once inquired at Capella University about a Master's program and was charged a $70 application fee for an application that I never submitted. I told them to refund it to me and they did, but then they called me for the next six months trying to get me to go there.

I ended up being accepted at the University of Minnesota for a similar program and when they called the next time I told them I was going to a traditional university. Haven't heard a peep from them since.

[walldude]

2. The faster people learn about what a waste of money places like

"The Art Institute" or "Full Sail" are the better off they will be.

Think I'm kidding? I work in the music industry. When we see an applicant from "Full Sail" it goes right in the trash. No questions asked.

If you are trying to get into a technical job you are better off going straight to work and getting some experience under your belt than wasting 30 grand on a school that has no ties to the industry they claim to be training you for.

[RandomThoughts]

3. I am not much into being trained either.

I like learning much better.

Also why they can keep there treats, and why I probably don't have beer right now.

Real beer, not metaphoric beer.

[blindpig]

4. k&r n/t