What are For Profit colleges?

For-profit colleges are considered to be like any other business, the owners and investors expect to make some profit from the school. In return of the quality education that they provides.

Posted by Navya B on 20th February 2018

For-Profit Colleges

When you have to choose a college for pursuing a degree what are the major concerns? I shall list few of the general concerns.

A student may want to choose the best college in terms of reputation, the infrastructure of the college and the reviews of what other people quote on the college infrastructure.

And for-profit colleges are the best in terms of all these factors.

Profitable colleges grab the attention of people using other luring things like Co-circular activities, sports, and other interesting talent programs.


What are for-profit Colleges?

Profitable colleges are the ones which focus more on the profit they receive.

  • There are basically three types of colleges in the United States which focus on profit. One type is education management organization (EMO).

  • The second one is post-secondary institutions which operate as a business. The third major one is for the less prevalent K-12 schools.

List of for-profit colleges in the United States

Kaplan University Ashford University
Capella University University of Phoenix
ASA College Ross College
Madison Media Institute Lincoln College of New England
Florida Technical College CNI College

What are the problems with for-profit Colleges?

Even though the best of best will have some inconvenience with it’s or organization. for-profit colleges also some determinable problems and they make a difference.

  • High level of debt on students

    • students who can’t afford too much of debt will make their financial status burdensome. Students with low income can’t afford for-profit colleges easily.

    • They should also concentrate on academics and can’t take the burden to graduate with ten thousands of dollars of credit.

  • Acceptance rates will be high

    • A student may face many problems to get into prestigious colleges with too many rejections.

    • And it is also said that colleges with high acceptance will have the low quality of education.

  • Reputed or not

    • Accreditation doesn’t always prove that the college is reputed and recognized.

    • Accreditation can be done in many other ways, it doesn’t check with the educational quality provided.

  • Where the fees go off

    • In most of the non-profit colleges, other than academics you will have many other activities, half of the tuition fees will vanish off for various purposes.


Advantages and disadvantages of for-profit colleges

Advantages Disadvantages
No strict Schedules, very flexible Accreditation may be questioned
No Entrance Exams for entry Poor Fiscal Strength can be disastrous
Real-world Focus and face practical situations Negative Stigma will be influencing the degree
Reputation Very Expensive
Online Education is possible Online Education is not 100%

Who typically fits into for-profit colleges?

  • Less Income

    • It is found that mostly the low-income students join a profit college more than the high-income students.

  • People of colour

    • As for-profit colleges mainly focus on money and not anything else, people of colour usually prefer to join for-profit colleges.

    • No entrance exams and discrimination are less compared to other colleges.

  • Military Veterans

    • Usually, they prefer to join the for-profit colleges, the colleges give a lot of preferences to military veterans.

    • In the year 2012-2013, the number of other student enrolment decreased and the military veteran’s enrolment increased.


Are For-profit Colleges all bad?

  • For-profit colleges are usually run by the business corporates who will invest in such colleges for profit if they don’t get the profit they might quit the business and shut down the business.

  • For-profit colleges also have some benefits like the college will have the advantage of helping students in other ways rather than the academics.

  • Students in for-profit colleges will have to maintain and balance their schedule with the classes, part-time jobs, and other useful activities.


Conclusion

I hope by the end of this article you have a good understanding of what are for-profit colleges and how it is different from the not for profit colleges.

Yes, I agree that for-profit colleges are mainly focused on business profit, but there are many other factors which make them better.