All around the world education is helping many students by allowing them to learn and expand their knowledge. Having a good education opens not only a vast amount of opportunities for the future, but also experiences that are irreplaceable and worth valuing for an entire lifetime. Education is indeed very essential to a students development, because it can use a wide array of mediums to convey a wealth of knowledge. In the United States, students also have complete education system.
In order to provide more educational opportunities and promote economy, the government allows merchants to build for-profit colleges that are dominated by making money. When the most primary educational objective moves to money, it will cause many problems. Therefore, people are on both affirmative and negative sides about for-profit colleges. However, facts prove that harmful effects of for-profit colleges outweigh the positives. Hence, the negative effects are gargantuan student loans, low educational quality, and serious economic problems Taylor & Appeal, 2014).
First of all, for-profit universities make students have gargantuan loans because the universities have very expensive tuition to make money. Meanwhile, for-profit colleges get through “good job opportunities” and the hope of “improving life” to attract poor people. These beautiful words make poor people believe that this is a rare chance to change their fate. Therefore, they try to apply for gargantuan student loans to achieve their dream. However, students repay the huge loan that is very difficult.
Many students just drop out of colleges because they feel they cannot pay back hefty tuition. Even though some students keep studying in for-profit colleges, the students still are troubled by mounting loans. According to research, the United States Education Secretary said nowadays too many of these programs fail to provide the training students need, it is burying them in debt that they cannot repay (Karma, 2014). The reason is that the students cannot totally focus on education because they worry about the great pressure to pay loans in the future.
Thereby, for-profit colleges produce huge and negative loans for students in society. Secondly, for-profit colleges cannot provide the basic quality standard of education. In fact, in order to earn more money, the colleges do not want to build great faculty and the professional teaching equipment system integrity. Their purpose is making a profit rather than developing talents. If their goals are not improving students in overall education, how can they spend much money on teaching equipment and research projects?
Former students, Rosary’s Harris ND Venereal Schools, are victims of for-profit universities because they learned nothing from the colleges. The colleges promised they have job opportunities and provide all the training and help what they need. However, they are not true (Ellis, 2014). We can see, for-profit colleges get through bogus ways of earning money. Meanwhile, Rosary’s Harris and Venereal Schools not only missed gaining any useful skills and knowledge, but also suffer from the many loans they used to pay for colleges. The other area worth considering is that for-profit colleges can lead to economic problems.
In general, people think economic risk is that we stop spending money and young people do not start businesses. At for-profit colleges, students get money through loans, and spend them on colleges. The default rates on loans is 22% for for-profit. It seems like that more than one student cannot pay back loans in every five people (Doyen, 2014). However, these gargantuan loans are from the government and companies. One of the economic effects of for-profit colleges is deficit that means an amount of money is less than expected and required.
Therefore, revenue and expenditure will have problems in balance. It is closely related to the living standard of residents because this balance can decide the value of money. Thus, for-profit universities give rise to economic crisis in market and society. In conclusion, for-profit colleges can cause three negative effects that are: huge student loans, low teaching standards, and the economic problem of deficit. Education is a significant part for national development. Education impacts the quality of citizens and economy in the Ignited States.
Colleges need to hire superior professors and buy professional equipment to help increase the educational standard. An excellent teaching standard can improve citizens and countries all over the world. As a result, people should not support for-profit colleges because they damage not only education, but also countries.