For Profit Colleges Are A Scam

[exboyfil]

11. Yes exactly how Karl Marx

felt. The evil profit motive. While I can think of a lot of things that I would change in this country (one of the first being better accountability of professional managers in corporations) and another being a fairer tax structure (I see no reason why capital should receive favorable tax treatment), I still think that the profit motive and the accumulation of individual wealth are the economic cornerstones of any liberal democracy.

If you can offer a specific education or training that enhances the well being of a student, why should you not earn a profit from it? The problem is the distortion related to our method of public funded post-secondary education. The biggest missing component is accountability.

Maybe education is better served as a public good (like healthcare). That does not make it immoral for an individual to make a profit though if the model allows for both.

A good place to start is to mandate no institution that has higher than a 10% default rate can participate in federal student loans and grants. It is a meat axe approach, but it is a start.