Purpose of For Profit Education?

I went to business school.  I’d like to think that constant progression towards the balance of free enterprise and government regulation will eventually benefit everyone.  I also am an advocate for corporate social responsibility.  Which brings me to the article I read a couple days ago in the New York Times about For-Profit Colleges.

I thought this would be a good place to start developing my ideas regarding For-Profit education.  Possibly develop a frame work for which this type of learning institution can be most useful to the US Education system.

The article outlines the finding from the investigation the Government Accountability Office implemented.  The article basically saying there is a lot of shady business practices regarding the “booming” for profit higher education businesses.   The biggest issue For-Profit College face is balancing their students educational needs with shareholder profits.  This often times leads to poor business practices or not putting the student need first for the sake of shareholder profits.  With so much fraud and misuse of public funds I’m trying to determine where For Profit Colleges will find a home with in the US Education system.

From a business prospective For Profit College can offer:

  1. Greater Access to Quality Education
  2. An Environment Breeding Innovation
  3. The ability for Self Sustainment and Reinvesting

Currently I believe the industry does touch on all of these points, I don’t believe there is one business model out there that has proven successful in providing all three of these incentives.  (Although I am learning more about the industry everyday so I hope to corrected)

The next several posts will be to explore each of these ideas and explore how these idea could be beneficial not just to the For Profit Colleges but also create an impact on the entire Education System.

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