Are For Profit Colleges Beneficial For Students?
For profit colleges don’t necessarily mean for the students’ benefit. It’s unfortunate, but for many, this is the case. They pay exorbitant tuition fees that they cannot afford, yet they get up-front compensation as well as perks to lure in more students.
They receive payment for each student and this set fee gets passed on to the university. The university then converts this to funds that it can invest in higher education as part of its general operation. The overall cost, however, may be considerably higher than the set price.
For profit colleges have set up the assumption that there will be an influx of students in the future. However, the high school dropouts are a thing of the past. With college costs rising, this will not be the case in the future.
Instead, money will need to be saved. Money which will need to be reallocated. If an ITT Technical Institute was to be closed down, the impact would be felt immediately, whereas if the college were to be relocated to another city, it could take years for its effect to be felt.
One of the reasons why ITT Technical Institute is trying to save itself is because of the way in which it has treated its students. The failure to properly prepare students for the workplace has given rise to the backlash against the college. It is impossible to learn the job skills required from a college without proper training.
However, when it comes to managing its students, the university’s reputation suffers. The whole idea behind the college is that it would educate its students and give them the skills they needed for their future. Because of the lack of a proper curriculum, ITT Technical Institute is forced to compensate by providing perks.
Some of these perks include but are not limited to, student loans. There are the Pell Grant, the Supplemental Educational Opportunity Grant, and federal student loans. These are the student loans that students are supposed to have, and the reason they have been offered is that they do not provide enough money for many.
The Pell Grant, though it was revamped by the government, is still a federally funded grant and thus goes to ITT Technical Institute. But these kinds of perks are not at all reliable for students to offset the overwhelming expenses they face. Student loans are the last resorts to help students, but the payments they make through this method will not be repaid.
With federal financial aid, however, there is no need to be concerned about this. The purpose of the federal aid is to provide financial assistance for needy students. This financial aid is based on individual merit and is offered to students who have shown academic excellence.
However, in terms of the overall scenario, only those students who have done well enough are eligible for financial aid. This means that even though they do not have the financial means to go to school, they still have the opportunity to go. At the same time, the student should remember that they must also be willing to work hard for it.
The problem with that is that many students do not have the discipline to maintain that discipline. They fall into the trap of taking up more than their allotted work load to avoid taking a loan. This is only a way to get the cash they need for tuition fees and not get anything beyond that.
Students who are determined to go to school without having to borrow money from their parents should pursue a school loan. It does not have to be paid back, but it is not required either. When ITT Technical Institute is closed down, the only thing that will affect students the most is not money, but whether or not they do their best in school.