This week’s pick is a new one-hour documentary from PBS’s Frontline. College Inc follows correspondent Martin Smith as he investigates the for-profit education industry in the United States. For-profit colleges and universities are run by an elite group of uber-wealthy vipers like Michael Clifford and Jack Welch – men who see education as a business like selling perfume.
They see their role as enablers – helping the masses who can’t get in to the public schools climb the socio-economic ladder in the USA. The problem is they serve up sub-standard education, it costs on average five times more than public education, aggressive recruitment practices have inflated enrolment with many who aren’t ready for higher education, and the whole thing is subsidized by American taxpayers.
Watch this alarming foray into the world of classes for the masses and wealth for the few. Many are anticipating a debt deferral crisis in the United Sates that will rival the sub-prime crisis. American student loan debt clocks in at $750 Billion – equal to US credit card debt.
And the problem is compounded when you meet students who took a one-year nursing certificate course, paid over $30,000 each at one of the phony for-profits, but never set foot in a hospital during their “education.” They are all in debt up to their ears and the certificate is not worth the paper it was printed on. And where is Obama’s government in all this greedy mess? Watch College Inc and find out…