Maya Reports

Icon

Our way of keeping you in the loop. You can thank us later.

Attending a for-profit university, good decision or bad decision?


I’ll admit it, when I first learned about the University of Phoenix, my first thought was “there’s a University of Phoenix in Arizona”??  All skepticism aside, of the for-profit university, the organization (for lack of a better term) is trying to re-brand the public’s perception.

While University of Phoenix is one of the internet’s biggest advertisers, it is first and foremost an educator.  Now, the Fortune 1000 company has tasked itself with re-branding American education, transforming it from an expensive and exclusive club to a high-quality, affordable, and scalable academic experience.

I would like to call your attention, dear reader, to the 2nd sentence in the quote above.  Specifically – a high-quality, affordable, and scalable academic experience. In a random coincidence, I read an interesting (and depressing) article today about how student loan defaults are on the rise.

The default rate on loans for for-profit schools rose from 11 percent in 2007 to 11.6 percent in 2008, while the rate for public institutions went from 5.9 percent to 6 percent and the rate for private schools went from 3.7 percent to 4 percent.

Right, so for-profit schools have the highest default rate.  And…

“While for-profit schools have profited, some of their students have not. Far too many for-profit schools are saddling students with debt they cannot afford in exchange for degrees and certificates they cannot use. This is a disservice to students and taxpayers, and undermines the valuable work being done by the for-profit education industry as a whole.”

The article doesn’t specify which for-profit school the defaulted students have attended, BUT I think it’s safe to say that it will probably behoove the powers to be at University of Phoenix, and other similar schools, to focus on their current students.

Just like companies, in this economy, are focusing on retaining and pleasing their current clients, I think that ensuring that their most recent graduates can use their certificates and degrees to secure jobs in this marketplace, should rank first on their agendas.

Advertisements

Filed under: Business, Finance, Marketing, , , , , , , , , , , , , ,

The more you bank a year does not mean you’re necessarily happier…


…richer, maybe, but not happier.

According to a study in the Proceedings of the National Academy of Sciences (right, I looked it up… founded in 1914, the PNAS reports on biological, physical, and social sciences),

Beyond household income of $75,000 a year, money “does nothing for happiness, enjoyment, sadness or stress”.

The data was comprised from a sample of 450,000 randomly selected Americans.  While the study found that the individuals’ self assessment of their own lives was strongly correlated to higher salaries, their day-to-day happiness was not equally affected.

“Many people want to make a lot of money, but the benefits of having a high income are ambiguous,” said Professor Kahneman, who is also a Nobel laureate in economics. When you are wealthy you are able to buy more pleasures, he said, but a recent study suggests that wealthier people “seem to be less able to savor the small things in life.”

What is the moral of the story?

In the end, people should pursue what they’re interested in, said Daniel H. Pink, author.

We’re taught that money-makes-the-world-go-round… and to save money for when we’ve retired,… While I understand that the researchers are trying to say that money doesn’t buy happiness, I actually would like to add a personal addendum… it certainly helps.

Filed under: Business, Finance, Random, , , , , , , , , , , , , ,

About MayaReports

Blog Stats

  • 5,864 hits
%d bloggers like this: