February 5, 2012

College Board’s survey on how much more money people make based on level of education

College board recently release the results of its survey on earnings based on race & degree level.  Clearly the facts speak for themselves with regards to the lifetime value of a degree.  Based on actual salary data people will earn from 66% to 274% more in their life with a college degree or advanced degree vs. a high school degree.

View the survey or presentation here: http://trends.collegeboard.org/ 

Isn’t it interesting that with all of the data & facts stacked in favor of the value in obtaining a college degree the government is making it more difficult to those who provide it…especially to those who promote it to the segment of the population that needs it most!

Look at the difference it make relating unemployment with level of education

Interesting 09′ EDU poll results being completely ignored by those who commissioned it.

Americans for Democratic Action conducted a poll regarding for profit education, here is some info on them:

ADA was founded by Eleanor Roosevelt, John Kenneth Galbraith, Walter Reuther, Arthur Schlesinger, and Reinhold Niebuhr shortly after FDR died.  Its goal then?  To keep the New Deal dream–its vision and its values of an America that works fairly for all–alive for generations to come.

With the election of Barack Obama, the moment to realize so many elements of that long-deferred dream has come – and ADA is key player in making the dream come true, working with the White House, Congress, and allied groups in Washington even as it builds and mobilizes its grassroots network across the country.

Are we effective?

You might ask one of our recent presidents such as Barney Frank, John Lewis, Jim McDermott, or Charles Rangel; they certainly think so.  The great liberal lion, Senator Edward Kennedy, credited us as the group behind passage of the latest increase in America’s minimum wage. 

Interesting that while their own poll resultsshowed overwhelming support for the for profit edu industry,  we all saw Barney Frank lead a one sided bash of the for for profits during his Senate testimony

View the poll reults for yourself here:  http://www.adaction.org/media/09pres%20educationpoll%20d5.pdf 

Here are some of the findings:

  • The public does not buy arguments that for-profit colleges and universities exploit their
    students. Instead, they believe these institutions play a powerful role in making a
    college education more accessible to non-traditional and underserved students.
  • Americans Want to Expand, NOT Restrict the Growth of For-Profit Colleges and Universities
    While some in Washington move to restrict the number of students for-profit institutions of
    higher learning can serve, Americans disagree.
  • Voters support allowing for-profit colleges and universities to expand their reach and
    serve more students. They soundly reject the notion that these schools should be
    stopped and that their growth should be hindered, and many are willing to make it a
    voting issue.

Clearly the democrats don’t want to make it a voting issues as they they know they will loose, instead they want to change what ever they can without public approval… what ever happened to government of the people for the people…

Republican however have tried to stop the democratic blitz on the for profit education industry and have agreed with the people, and the surveys overall result:

In sum, Americans realize, now more than ever, the need to allow for-profit colleges and
universities to expand the number of students they can serve. These students need more
flexibility and deserve every opportunity that others receive to earn their college degree and
reach the American Dream, especially as President Obama calls on more and more Americans
to earn their degree and make America the leader in higher education. Americans do not buy
the attacks that for-profit colleges and universities cost too much and should not make a profit,
provide a lower quality of education, or exploit their students. Those who stand in the way or
seek to restrict this growth misread the public and risk their own standing with voters.

BMO Conference was Packed as expected!

Yesterday was the BMO annual Back to School conference in NYC.  As expected in this active political climate relating to the sector,  it was packed.  First I want to congratulate BMO for the excellent job they did, they not only put out a great agenda with the top tier participants, they also provided a quality environment for networking, private discussions and of course plenty of food & beverage. 

Almost every session was standing room only with people listening closely to what the power players were saying relating to current operations, government proposed changes and the potential effects on their businesses.  Also it was great to hear such organized demonstrations of the faults inherent within the proposed rule making.  I only wish many of the news outlets would broadcast those messages before the proposed changes become rules.  While CNBC was there networking and doing some interviews we have yet to see many of the concrete negative attributes of the proposed changes made public with the national media.  Hopefully that will change soon. 

Clearly there are many conflicts with the governments intended goals regarding educating America and the actual negative outcomes the proposed rules will result.  Who is going to push the value of college to those consistently neglected.  Who is going to take the risk of trying to educate those who need it most, but represent the biggest default risk?  Clearly there are many conflicts with the discussions relating to the cost/waste of tax payers money on the forprofits and the reality of actual cost to the tax payer without them.  Clearly they are not comparing apples to apples with the facts and figures, rather shouting sound bites and political buzz words to seek attention in the active political climate.

Also, Steve Eisman the industry short attended some of the conference, what are the odds his mind was open to any of the data presented…

University of phoenix & nexus research first report on most efficient systems of higher education

Two years ago, the founders of the University of Phoenix announced plans that they were going to create an independent, nonpartisan research institute to examine significant educational issues affecting nontraditional students and for-profit higher education. Industry analysts, excited to get a peek into the loads of data that Phoenix and other proprietary institutions track about their students and teaching methods,were excited about the news.

The report, “For-Profit Colleges and Universities: America’s Least Cost and Most Efficient System of Higher Education,” lofts praises of the University of Phoenix and other for-profit colleges. It postures that many of the problems of the industry highlighted in Congressional hearings and flow of negative news accounts are not systemic, and also dishes an attack on traditional colleges as “studies in inefficiency.”

the full report is available here: http://nexusresearch.org/1/NexusStudy8-31-10.pdf

5 Things For-Profit Colleges Do WELL When Recruiting Students

Listen to podcast: 5 Things For-Profit Colleges Do WELL When Recruiting Students

The for-profit colleges have really gone throught the ringer lately, especially with the recent report released by the Government Accountability Office which uncovered some fairly questionable admissions marketing practices that some of these colleges are supposedly engaging in. While I think these colleges need to address these issues and ensure these tactics are not being used, I worry this bad press is going to overshadow the good things the for-profit colleges are doing and be yet another excuse for the not-for-profit colleges to refuse to adopt some of the admissions marketing tactics the for-profit colleges have been so successful with. 

I’ve put together this podcast to outline five lessons that can be learned from the way for-profit colleges recruit their students. This is the first podcast from us, so please let us know how you like it.

Happy Hunting!

 Elizabeth Kraus

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