What's the value of a University of Phoenix degree? (More than 100 comments added; go here to read them and be sure to read the companion blog post and comments about Saturday Night Live's "University of Westfield" ad) There's a very serious critique of the University of Phoenix in today's New York Times. This for-profit, continuing-education institution -- which offers in-class programs as well as online degrees -- has been providing substandard education, according to many students quoted in the article. The most telling statement, however, comes from the head of the accreditation agency responsible for business degrees: FRONTLINE: college, inc.: watch the full program online. Even in lean times, the $400 billion business of higher education is booming.
Nowhere is this more true than in one of the fastest-growing -- and most controversial -- sectors of the industry: for-profit colleges and universities that cater to non-traditional students, often confer degrees over the Internet, and, along the way, successfully capture billions of federal financial aid dollars. In College, Inc., correspondent Martin Smith investigates the promise and explosive growth of the for-profit higher education industry.
Through interviews with school executives, government officials, admissions counselors, former students and industry observers, this film explores the tension between the industry --which says it's helping an underserved student population obtain a quality education and marketable job skills -- and critics who charge the for-profits with churning out worthless degrees that leave students with a mountain of debt. Troubles Grow for a University Built on Profits.