A while back, I noticed an ad for "Full Sail University" running in our sidebar, and mused a bit on its name and the significance thereof. Now Tenured Radical has a post calling attention to a piece in the Nation that discusses Tagg Romney's investments in Full Sail, and the significance thereof. Here's the situation in a nutshell, as described by TR:
Although Full Sail is the third most expensive school in the country, Romney has touted its online and on-campus degree programs as a good example of the private sector can help students “hold down the cost of their education.” However, one of the ways they do that is by hanging on the public financial tit: they recruit students, help them fill out the paperwork for federally guaranteed loans, and siphon off whatever money those students are entitled to from Florida state grant programs and the Veterans Administration. . . .
Money lost to for-profits is not just lost to taxpayers, legitimate colleges and students who will pay those loans back for decades without having received a degree. The Music Men of higher ed siphon public money right into the pockets of investors and CEO’s. Only federal regulations, and federal investigations of the fraudulent promises made by these Harold Hills of education, restrain them at all.Oy. Lord save us all from the edupreneurs of both parties.