One of the things that those of us who teach in public institutions, particularly those granting two-year degrees, have long known is that students get a better value from us than from the for-profit institutions that have been pushing so hard to compete with us. Now, with growing online opportunities from state institutions, the difference is really starting to show:
Competition from state universities’ expanding online programs is pummeling for-profit colleges, once among the fastest-growing U.S. industries. The companies, including University of Phoenix and Washington Post Co. (WPO)’s Kaplan chain, are closing campuses as enrollment and stock prices plunge. With outstanding student loans totaling $1 trillion, some potential customers are turning away from the schools out of concern about cost and quality.
Though I have reservations about the ways in which online possibilities are being presented even in the more established schools, I think they provide a better and cheaper alternative to the for-profits. And I am not the only one.
The article quoted above, by John Hechinger, appeared today on Bloomberg. Follow the link. It’s worth reading.