[lbo-talk] Privatized Education Fraud: Stripping to Pay Tuition

[michael perelman]

Bloomberg Businessweek has done a good job of tracking the scandal of 
privatized colleges.  I will post another piece in which the magazine 
describes these "colleges" peddling education in homeless shelters, 
knowing that the Feds will cover the inevitable defaults.

Hechinger, John. 2010. "What's This Degree Worth?" Bloomberg 
Businessweek (9 August): pp. 66-69.

http://www.businessweek.com/magazine/content/10_33/b4191066612953.htm?chan=magazine+channel_features

"Carrianne Howard dreamed of designing video games, so she enrolled in a 
program at the Art Institute of Fort Lauderdale, a for-profit college 
part-owned by Goldman Sachs. Her bachelor's degree in game art and 
design cost $70,000 in tuition and fees. After she graduated in December 
2007, she found a job that paid $12 an hour recruiting employees for 
video game companies. She lost that job a year later when her department 
was shuttered. These days, Howard, 26, makes her living in a way that 
doesn't require a college diploma: by stripping at the Lido Cabaret, a 
topless club in Cocoa Beach, Fla. "I didn't know what else to do," she 
says. "I've got a worthless degree. It's like I didn't attend school at 
all"."

More at:

http://michaelperelman.wordpress.com/2010/10/18/privatized-education-fraud-stripping-to-pay-tuition/

-- 
Michael Perelman
Economics Department
California State University
Chico, CA
95929

530 898 5321
fax 530 898 5901
http://michaelperelman.wordpress.com