For-Profit Colleges: Are They a Scam?

September 16, 2021 By: Suber0 comments

Today, more than ever before, the job market is demanding that job seekers have a college degree. Nearly every job description lists a bachelor’s degree as a minimum job requirement for applicants. Facing these demands, more and more Americans are flooding our country’s colleges… but what happens to people who are unable to pay for college or who don’t have the grades to get in?

This is where For-Profit Colleges enter the scene. You’ve seen the commercials for schools like University of Phoenix and DeVry University. Other for-profit colleges include Strayer University, Argosy University, Capella University, Everest College, and the (now bankrupt) Corinthian College group.

For-profit colleges like these are making a killing financially, but they are often doing it unethically, and some have been accused of fraud. According to a report aired on PBS (http://www.pbs.org/video/2365840612/), for-profit colleges are much more expensive than community colleges and state universities, and they over-promise and under deliver. In addition to allegations of fraud, some have been called a scam, due to the following reasons:

• They employ predatory sales people, rather than admissions advisors, to “sell” students on the college, convincing them to accept heavy student loans
• They target lower income students (called “subprime borrowers” by those in the for-profit college industry) who cannot afford traditional college, and convince them to accept immense student loan debt
• They lack legitimate accreditation
• They provide no real-world experience and do not help with job placement
• Their degrees are often viewed as worthless by hiring managers

Hundreds of thousands of students have become entangled in this scam, and they are looking for a way out of the student loan debt incurred while attending for-profit colleges. Many of them are having to start over completely at community colleges, re-earning each and every credit.

If you’ve experienced this scam, the Suber Group can help. Specializing in student loan forgiveness, the Suber Group has been able to assist many individuals with managing their debt. The Suber Group also has tools to help students with debt consolidation and debt restructuring.

You shouldn’t have to pay for your degree for the rest of your life. Call the Suber Group, and let us help you figure out the best way to manage your student loan debt.

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