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November 3, 2020

How for-profits colleges are on the rise in the US – why real inflation has doubled

By Paul Dennis

3 November

Susan Marie Dynarski, an economist, re-tweeted on the resurgence of for-profits colleges in the US, driven mainly by the Covid-19 recession, closure of public and non-profit institutions and favourable government policies.

The influencer shares an article by Stephanie Cellini, a public policy and economics professor, on why this should be a reason for concern.

A National Student Clearinghouse report found an alarming increase of undergraduate enrolments in for-profits, which rose by 3% over the previous year compared to a sharp 9% decline in public community colleges.

The data saw more alarming patterns for first-time enrolments.

According to the report, enrolments in for-profits colleges rose by 13% for first-time students aged between 21 and 24 years, and by 15% among those aged between 25 and 29 years.

The author warns that it is a concerning trend as for-profits education produce lower earnings and higher debt for students than other institutions.

In other news, Daniel Lacalle, a chief economist and author, shared his views on inflation not being a social policy and that real inflation has more than doubled the official levels during the Covid-19 pandemic.

Read more

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