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Word Count: 1,457
It is no secret that a college education has never been more necessary for a decent life in America Many manufacturing jobs now demand a level of skill and education that virtually requires a college degree A lot of white-collar employers wont even consider a job applicant who hasnt graduated from college Unfortunately this means that the poor and lower class have no choice but to attain some sort of higher education This is how For-profit colleges came to existence originally established to serve low income students that public and private nonprofit institutions often ignore The reality is exactly the opposite the for-profit colleges have become rather a form of a business investment How you might ask Well the for-profit college industry makes its money by recruiting students poor and working-class students to be exact who must draw from the federal to pay tuition Since most of that money comes from the federal government in the form of Pell Grant or subsidized student loans the for-profit of their choice will inherit a quarter of all the federal aid In a bigger picture these colleges get 90 percent of their revenues from federal aid Making the whole for-profit system very contradictive causing many people to take a firm stand against for-profit collegeswhile some people might believe the only way to fix this problem is by completely diminishing all for-profit school Steve Eisman being one of them he is a famous short-seller and hero of Michael Lewiss book The Big Short Last year he said in a speech that the for-profit education industry was as socially destructive and morally bankrupt as the subprime-mortgage industry Although as of right now that might be true I believe that the foundation of these colleges is great the problem is these schools are not uniformly regulated sales people are being hired as recruiters and students are being misled Once these
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