Let’s talk about one of my favorite topics today, government lobbyists.
Nothing is better than government interests being interfered with due to the financial backing of interest groups.
Who here thinks that colleges spend a large amount of money on lobbying in Washington DC?
If you answered that you do, then, ding, ding, ding, you are correct and you win $39.6 million dollars or the amount of money spent by for-profit colleges through lobbying efforts since 2007.
There have been widespread investigations into the recruitment practices of for-profit education and for-profit schools answered these investigations through lobbying.
Predatory recruitment? Nothing a little lobbying cannot fix.
A study found that among 30 for-profit colleges, 41.8% of revenues went to marketing and recruiting, 17.7% went towards instruction. It’s good to see that these institutions have their priorities correct!
Bring students in, spit them out and bring more in. The education part, ehhh, who cares.
Oh yeah, these institutions have received nearly $32 billion dollars from the federal government. Beautiful to see so much government spending on schools that spend more of their revenue stream on the important things like recruiting. Spending on teaching, who needs that, right!?
To make it even better, students at for-profit schools have double the rate of defaulting on student loans, borrow more and provide lower employment prospects for their students but let’s not confuse the truth with facts. Lobbying and not improving the quality of education is imperative for these institutions.
Now I do not mean to sound like for-profit schools are an enemy and that they provide minimal value because they do. Plenty of their students make something of themselves and go on to do great things.
Well I am off to Washington DC for the weekend to spend a few dollars and support the economy because as we know, for-profit schools are not putting enough money into the city.