Results 1 to 15 of 15

Thread: Online Universities a SCAM???

  1. #1
    Moderator Optimist's Avatar
    Joined
    Feb 2004
    Location
    House of Aion
    Posts
    8,074
    Thanks
    7,881
    Thanked 5,705 Times in 2,127 Posts
    My Mood
    In Love

    Default Online Universities a SCAM???

    Going to school online might wind up being a waste of time. Frontline has a really interesting story on it. http://www.pbs.org/wgbh/pages/frontline/collegeinc/ From an investors point of view it looks like the silicon boom all over again. I might have to buy a little of this....
    Last edited by Optimist; 05-07-2011 at 09:08 AM.
    “What a caterpillar calls the end of the world we call a butterfly.” - ECKHART TOLLE

  2. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Online Universities a SCAM???

    (snip)"Bridgepoint Education, Inc. (NYSE:BPI): 10,491,018 shares were sold short as of 4/15/11, representing 57.8% of the company’s float. Based on average daily volume of 353,384, it takes 30 days to cover the float. About the company: Bridgepoint Education, Inc. is a regionally accredited provider of postsecondary education services. The Company offers associate’s, bachelor’s, masters, and doctoral programs in the disciplines of business, education, psychology, social sciences, and health sciences.

    ITT Educational Services, Inc. (NYSE:ESI): 6,444,912 shares were sold short as of 4/15/11, representing 32.2% of the company’s float. Based on average daily volume of 585,105, it takes 11 days to cover the float. ITT Educational Services, Inc. provides technology-oriented postsecondary degree programs in the United States. The Company’s institutes offer associate, bachelor, and master degree programs, as well as non-degree diploma programs."(snip)


    ^^^ actually, the 'smart money' is already short selling shares of these 'for profit' diploma mills ... with the PBS coverage being 'a day late and a dollar short' ( actually long when they should be short LOL ) !

    The reason of course is that many would-be students are beginning to realize that, even though student loans are extremely easy to get thus allowing them to obtain college degrees, many college degrees no longer offer a 'guaranteed payback' on their investment of time studying ( versus working ) and/or tuition dollars. This is particularly true of schools which prospective employers no longer hold in high regard i.e. many online universities, some public universities etc. The same would-be students are also beginning to realize that 95%+ of new student loan debt incurred will be exempt from future bankruptcy proceedings ... meaning that there will be no 'escape' re paying off student loan debt incurred, even if it takes them the next 30 years to do so !

    major Dollar Den discussion on this topic at

    ~
    Last edited by Melonie; 05-07-2011 at 09:40 AM.

  3. #3
    Moderator Optimist's Avatar
    Joined
    Feb 2004
    Location
    House of Aion
    Posts
    8,074
    Thanks
    7,881
    Thanked 5,705 Times in 2,127 Posts
    My Mood
    In Love

    Default Re: Online Universities a SCAM???

    Good to know! Didn't realize there's another thread on it. I'll check that out.
    “What a caterpillar calls the end of the world we call a butterfly.” - ECKHART TOLLE

  4. #4
    God/dess Arialandre's Avatar
    Joined
    Jan 2010
    Location
    British Columbia, Canada
    Posts
    2,895
    Thanks
    383
    Thanked 2,466 Times in 895 Posts

    Default Re: Online Universities a SCAM???

    God that's depressing

  5. #5
    Banned
    Joined
    Jul 2005
    Posts
    11,037
    Thanks
    1,891
    Thanked 5,124 Times in 3,086 Posts

    Default Re: Online Universities a SCAM???

    Colleges are a scam in many cases, but especially in online. I watched that Frontline (I always watch Frontline and recommend it) and online universities are NOT respected by employers.

  6. #6
    SpeakngEZ
    Guest

    Default Re: Online Universities a SCAM???

    Note that many respectable, traditional universities now offer online programs. Even the esteemed George W U now offers some online classes. My school offers online classes that look exactly the same on a transcript as if you'd taken them in person.

    The question is, "is the school accredited and respected?" If no, don't waste your money. If yes, go right ahead and learn something in your pj's.

  7. #7
    God/dess Arialandre's Avatar
    Joined
    Jan 2010
    Location
    British Columbia, Canada
    Posts
    2,895
    Thanks
    383
    Thanked 2,466 Times in 895 Posts

    Default Re: Online Universities a SCAM???

    Ugggg it just makes me never want to go back to school

  8. #8
    Moderator Optimist's Avatar
    Joined
    Feb 2004
    Location
    House of Aion
    Posts
    8,074
    Thanks
    7,881
    Thanked 5,705 Times in 2,127 Posts
    My Mood
    In Love

    Default Re: Online Universities a SCAM???

    Don't throw the baby out with the bathwater. I just think it's good to do your research ahead of time. Check out whether their program for your field will be respected by potential employers. Check out whether the price tag is worth it. It's a big price tag and a LOT of time too. The same amount of research that would go into a car purchase should go into a degree "purchase".
    “What a caterpillar calls the end of the world we call a butterfly.” - ECKHART TOLLE

  9. #9
    Veteran Member LaciiLuvSyOu's Avatar
    Joined
    Mar 2011
    Location
    CA
    Posts
    221
    Thanks
    108
    Thanked 82 Times in 57 Posts

    Default Re: Online Universities a SCAM???

    Yeah..Online universities are DEF. scams! They charge DOUBLE per credit hour than a normal university would because they are for profit. And the schools like Kaplan and trade/online schools and stuff esp. they charge double per credit hour and you can get it done quicker but once your actually done what you receive is not even accredited hardly ANYWHERE so not only are you wasting DOUBLE money but a HUGE HUGE HUGE waste of time!! (IMO)

  10. #10
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Online Universities a SCAM???

    ^^^ not to mention another potential consideration that is also discussed in Dollar Den ... 'lost opportunity cost'. Normally one would only think of the price of college tuition as the major cost factor if attending college. However, where exotic dancer college students are concerned, every night that is spent studying instead of working in a club 'costs' the dancer $200-$300-$500 !!!

    Thus if attending college means dancing two nights per week instead of five, for every year of college attendance the 'lost opportunity cost' of not dancing probably means 50 weeks * 3 nights * $300 nightly earnings = $ 45,000 per year that WASN'T earned but could have been. Over a 4 year bachelor's degree program this means that the college graduate dancer is starting out $180,000 behind where she otherwise might have been.

    That's NOT a small consideration, given that the same dancer could attend college at say age 35 after being a 'serious professional dancer' for 15 years, but the dancer ( usually ) cannot attend college at age 20 and later at age 35 attempt to return to dancing if her college degree and 10 years worth of 'straight job' earnings haven't actually provided the kind of income required to 'set herself up' for the future.

  11. #11
    Veteran Member Cheo_D's Avatar
    Joined
    Feb 2010
    Location
    An Island
    Posts
    236
    Thanks
    539
    Thanked 148 Times in 92 Posts

    Default Re: Online Universities a SCAM???

    As others have mentioned - people interested in online education had better do their homework. As SpeakngEZ points out, as more regular, accredited universities provide online programs, there is less reason to go after the (often far more expensive)iffy programs. A degree from Fort Hays State U. (KS) or Excelsior College (NY) will cause much fewer questions to be asked than one from "Cheo's Research Institute", POBox 6969, Grand Cayman Island.

    And specifically for those who after due consideration conclude that a degree IS for them, one thing that is to be avoided is going with a "diploma mill" that will sell you a credential for "life experience" or promise a BA in six weeks when you don't even have a GED to start with, or a school that's not accredited by the recognized accrediting entities (watch out for BS about "special" accreditations). That's not just throwing money away but can reach back to bite you you know where in a later employment situation if you used that degree as a qualification credential.

    Quote Originally Posted by Melonie
    the same dancer could attend college at say age 35 after being a 'serious professional dancer' for 15 year
    ...good point, there's nowhere a law that says we all shall have college degrees by the time we're 22...

  12. #12
    Moderator Optimist's Avatar
    Joined
    Feb 2004
    Location
    House of Aion
    Posts
    8,074
    Thanks
    7,881
    Thanked 5,705 Times in 2,127 Posts
    My Mood
    In Love

    Default Re: Online Universities a SCAM???

    I think this guy said it very well.

    http://www.city-data.com/forum/18964593-post8.html

    (snip)Yup, most for-profit schools are a scam. However, you also have to look at the non-profits as well.

    A teacher once told me, "non-profit is simply a tax designation, not an operating philosophy."

    It holds true. We rant about for-profits being expensive but do non-profits fare any better? Absolutely not. How about government schools? Once again, absolutely not. They are only cheaper because someone else is picking up the bill.

    As access to student loans has increased so has the cost of admission for both for-profits and non-profits. Essentially they are one and the same, one just has been doing it longer than the other so they are better at it.

    Also, for-profit designation is not bad, we just haven't seen any for-profit schools that are serious about giving a solid education for a fair price. The key concept is in maximum VALUE for your dollar. Likewise, its the fault of the consumer to blame for not doing their homework. Its also the fault of the politicians who don't set high enough standards for what schools can get student loan programs. Then again, its all about maxing out those student loans and the system is highly successful at doing that.

    Take note that student loan debt is higher than credit card debt. Its also important to note that student loan debt cannot be bankrupted away like credit cards. It means it is a much heavier burden for the student who has to pay it back.(snip)
    “What a caterpillar calls the end of the world we call a butterfly.” - ECKHART TOLLE

  13. #13
    God/dess Mr Hyde's Avatar
    Joined
    Oct 2004
    Location
    Tampa
    Posts
    4,035
    Thanks
    278
    Thanked 586 Times in 346 Posts

    Default Re: Online Universities a SCAM???

    After speaking with people involved in the for-profit schools, I'd say that most for-profits are a scam, and most all-online schools are for-profit...ergo, yes, they are a scam.

    As part of a larger, comprehensive degree program from a fully accredited school, online classes are ok. However, even from a fully accredited school, you're doing yourself a disservice by earning a degree fully online.

    This is just my opinion. Take it FWIW.

  14. #14
    Moderator Optimist's Avatar
    Joined
    Feb 2004
    Location
    House of Aion
    Posts
    8,074
    Thanks
    7,881
    Thanked 5,705 Times in 2,127 Posts
    My Mood
    In Love

    Default Re: Online Universities a SCAM???

    Quote Originally Posted by Melonie View Post
    ^^^ not to mention another potential consideration that is also discussed in Dollar Den ... 'lost opportunity cost'. Normally one would only think of the price of college tuition as the major cost factor if attending college. However, where exotic dancer college students are concerned, every night that is spent studying instead of working in a club 'costs' the dancer $200-$300-$500 !!!

    Thus if attending college means dancing two nights per week instead of five, for every year of college attendance the 'lost opportunity cost' of not dancing probably means 50 weeks * 3 nights * $300 nightly earnings = $ 45,000 per year that WASN'T earned but could have been. Over a 4 year bachelor's degree program this means that the college graduate dancer is starting out $180,000 behind where she otherwise might have been.

    That's NOT a small consideration, given that the same dancer could attend college at say age 35 after being a 'serious professional dancer' for 15 years, but the dancer ( usually ) cannot attend college at age 20 and later at age 35 attempt to return to dancing if her college degree and 10 years worth of 'straight job' earnings haven't actually provided the kind of income required to 'set herself up' for the future.
    Also I just found this stat that only 25% of college grads are graduating with a job. If degrees are so sought after and $20-30,000 investment in debt for college is worth it, then why the chilling 75% unemployment rate for all schools across the board? Three out of four students are getting bamboozled!

    http://newgradlife.blogspot.com/2010...ege-grads.html

    (snip)NACE’s 2010 Student Survey shows nearly 25% of 2010 graduates who applied for a job have one waiting. Additionally, employers surveyed said they plan to hire 5.3% more new college graduates than they did in 2009.

    “It’s been hard, but a lot of them have found jobs. It’s just a tough market,” said UNC Graduate Jesse Snellings, who landed a job before graduation.

    Students who majored in the following categories are more likely to get and accept offers, according to a NACE study: Accounting, Business Administration, Computer Science, Engineering, and Mathematics.

    While the employment numbers for college grads are up slightly, starting salaries are down from last year. NACE reports the average for a Bachelor’s candidate is $47.763. That’s down from $48,515.(snip)
    “What a caterpillar calls the end of the world we call a butterfly.” - ECKHART TOLLE

  15. #15
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Online Universities a SCAM???

    ^^^ the NACE study basically reaches similar conclusions to a different study cited in the Dollar Den thread. Indeed only 1 in 4 new college graduates actually leaves school to walk into a pre-agreed job. What the NACE study DIDN'T point out however, is that the vast majority of those pre-agreed jobs go to graduates of NAME colleges ... with comparatively few going to graduates of state colleges and practically none going to graduates of online universities.

    The different study also points out that, at present, there are 21 applicants for every white collar job opening. Thus new graduates must 'win out' over 20 other applicants ... many of whom have the same degree PLUS relevant work experience, many of whom have a foreign university degree and are willing to work for significantly lower pay rates via the US H1B visa program for foreign 'professionals', etc.

    The NACE study also does not state the degree to which the overall average $47,700 starting salary is skewed by 'major'. In point of fact new graduates with engineering, math, and computer science degrees pull up the overall average with starting salary offers in the $60k ballpark. Business and accounting degree holders fall right around the average $48k. Other 'majors' will face starting salaries as low as the $30's. And these $ offers are going toward those imminent graduates whom employers consider 'worthy' of an immediate job offer. Like professional sports, those graduates who aren't 'picked in the first round' can expect even lower offers.

    ~
    Last edited by Melonie; 05-14-2011 at 06:31 PM.

Similar Threads

  1. Replies: 88
    Last Post: 07-11-2011, 02:13 PM
  2. Major universities with online degrees
    By loveandluxury in forum The Lounge
    Replies: 8
    Last Post: 07-21-2008, 02:17 PM
  3. Is this a scam?
    By loveandluxury in forum The Lounge
    Replies: 37
    Last Post: 06-19-2008, 05:50 PM
  4. Online pharmacy that's not a scam
    By zxcire in forum Body Business
    Replies: 2
    Last Post: 09-29-2007, 07:37 AM
  5. do you think this is a scam ?
    By Cristalla in forum Other Work
    Replies: 19
    Last Post: 04-27-2006, 02:11 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •