(OAKLAND, CA) The Education Trust—West issued the following statement today regarding the release of a new report on for-profit colleges and universities by its national office, The Education Trust:
In California, for-profit institutions are growing at a rapid rate in a time when state support for higher education is declining. In opening their doors to—and often directly targeting—disadvantaged students, these schools offer the promise of college and career opportunities. But how effectively are they fulfilling students’ dreams of a great career, and at what cost?
In The Education Trust’s newly released report entitled, ‘Subprime Opportunity: The Unfulfilled Promise of For-Profit Colleges and Universities,’ the sharp increase in enrollment at for-profit universities is clearly presented. The number of students enrolled nationwide in for-profit colleges has increased 236 percent over the past 10 years.
For-profits serve a large proportion of students from California’s underserved communities and communities of color. In 2008, 29 percent of students in California for-profits were from low-income backgrounds, and 31 percent were African-American, Latino, or Native American. While for-profit institutions have the potential to provide more access to higher education, the report illustrates a crisis in lost opportunities. For-profit graduation rates are appallingly low. Only 27 percent of first-time bachelor’s degree-seeking students in California, who enroll full-time in for-profit institutions actually graduated after six years.
