Upload

Loading icon Loading...

This video is unavailable.

For-profit colleges are scamming Americans students

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to like The Big Picture RT's video.

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to dislike The Big Picture RT's video.

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to add The Big Picture RT's video to your playlist.

Published on Jul 31, 2012

According to an investigation led by Democratic Congressman Elijah Cummings - for-profit colleges are paying executives massive salaries - not based on student achievement - but based solely on profitability. Looking at 13 different for-profit schools - the investigation found, "the single most significant measure for determining executive compensation at these schools is corporate profitability...rather than student achievement." For-profit colleges rely heavily on government funding, with many schools receiving as much as 90% of their revenue from federal student loan assistance programs. Yet, they're not producing good results. A quarter of all students who attend for-profit schools default after three years, while the default rate at public institutions is a mere 10%. Yet the for-profit school executives still get fat paychecks - like Strayer CEO Robert Silberman who made $41 million in 2009 alone. Educating the future American workforce used to be a part of the commons, because the economic security of the nation depends on well-educated workers. But now, the money-changers are in control - leaving students in debt, unprepared, and jobless.

Loading icon Loading...

Loading icon Loading...

Loading icon Loading...

The interactive transcript could not be loaded.

Loading icon Loading...

Loading icon Loading...

Ratings have been disabled for this video.
Rating is available when the video has been rented.
This feature is not available right now. Please try again later.

Loading icon Loading...

Advertisement
Loading...
Working...
Sign in to add this to Watch Later

Add to