Under pressure from the Education Department’s proposed changes in student loan rules, University of Phoenix will focus on increasing graduation rates rather than expanding enrollment. The announcement was followed by a 25 percent drop in the parent company’s stock price; the whole for-profit higher education sector nosedived in sympathy.
The for-profit giant will require new students to go through a free three-week orientation. In pilot projects, about 20 percent who go to orientation decide not to enroll.
About Joanne
It’s a blessing that so many would-be students change their minds, thus escaping from “graduating” in crushing debt with a bogus degree.
It’s no accident that the University of Phoenix was a sponsor of and high-profile presence in the NBC “Education Nation” project, a big promoter of “education reform” fads like charter schools and teacher-bashing.
I wonder what would happen if all colleges – 2 and 4 year – did this same thing? I bet you would see similar results…