"Of the students who enrolled in 2008-9, for example, 84 percent in the associate degree programs were gone by September 2010 (63 percent had left the bachelor’s programs).
Bridgepoint employs 1,703 recruiters, the senator said, but only one employee is charged with job placement.
The amount spent on instruction per student was above $5,000 before Bridgepoint, but has since dropped to about $700 a student — about a tenth as much as at Iowa State. According to Mr. Harkin, for each Bridgepoint student, $2,700 went to recruiting and $1,500 to profits. Its chief executive, Andrew Clark, earned $20.5 million in 2009."
http://www.nytimes.com/2011/03/11/ed...?ref=education
Just another way the wealthy scam the non-wealthy students and the suckered taxpayers who give out the loans.
I'm sure the Repugs and tea baggers will put a stop to it. It's a very hot issue for them, just like financial, environmental, worker safety regulation.
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