Excluding For-Profit Proprietary Colleges from Receiving...

Excluding For-Profit Proprietary Colleges from Receiving Federal Student Financial Aid Introduction Every year, higher education institutions (HEI’s) receive billions of dollars from the Department of Education in the form of loans, grants and subsidies. These funds are authorized under Title IV of the Higher Education Act, and are the primary source of Federal student aid for all HEI’s in the United States. The main Title IV programs include Loans, Grants and Federal Work Study (U.S. Government Accountability Office [GAO], 2009). HEI’s include public colleges, private non-profit schools and private for-profit schools. In the 2010-2011 academic year, the private for-profit schools (known as â€Å"proprietary schools†) collected over $32†¦show more content†¦Public colleges did not have the capacity to handle the sudden influx of new students, and did not have the agility to react swiftly to the sudden upswing in demand. PHEI’s saw the potential market value of these unserved students, and were able to move swiftly to put new programs, and sometimes entire schools, in place to meet demand. From 2008-2010, the ten largest proprietary schools had an average increase in enrollment of over 30% (Harkin, 2012). In the decade between 2000-2010, the PHEI industry had an overall increase in enrollment of 235% (Figure 1.) This represents over 9% of the population of post-secondary students (Lynch, Engle, Cruz, 2010). This growth was supported by the government, which believed the public s ector could not meet the rising demand for education. During this time of exponential growth in the private for-profit sector, the industry benefited from changes in Federal government policies. The U.S. government saw private colleges as a way to expand the choices in the education market. It also saw them as a way to meet demand for education and to develop a more skilled workforce in the United States (Harkin, 2012). To assist in the expansion of this sector of education, constraints on Federal financial aid were loosened, and accredited for-profits enjoyed increased access to Federal student aid funds (Loonin, 2011). In addition to the rising demand for tertiary education, the advent of the internet gave PHEI’s a new delivery method forShow MoreRelatedThe Government and Not-For-Profit Environment100975 Words   |  404 PagesGovernment and Not-For-Profit Environment TRUE/FALSE (CHAPTER 1) 1. F The main objective of a typical governmental or not-for-profit entity is to earn a profit. 2. TA government’s budget may be backed by the force of law. 3. FGovernmental entities have no need for an accounting system. 4. TA government’s internal managers rely on general purpose financial statements for a considerable amount of information about their government. 5. 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