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Wall Street publication "The Street" looks at the 5 strangest college bowl sponsors. One, of course, is San Diego's highly-controversial Bridgepoint Education, sponsor of the Holiday Bowl. The publication notes that the contestants, Baylor and UCLA, are "actual universities. They have campuses, buildings, accredited faculty and a student body that matriculates, graduates and becomes a proud alumni base." The there's Bridgepoint, which the publication calls "a diploma mill," although it points out that more than 60% of students drop out. The publication rattles off some facts that have been reported here many times, and repeats a classic line: Sen, Tom Harkin calling Bridgepoint "a scam, an absolute scam." A Bridgepoint supporter wrote in to say that the company does have a campus with buildings and accreditation, and a student body that matriculates. Yeah, sure. To get accreditation, Bridgepoint bought a tiny college in Iowa that is about 1% of its enrollment. Almost all the rest is online. And the accreditation is now being questioned.

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Comments

SurfPuppy619 Dec. 18, 2012 @ 12:46 p.m.

The publication notes that the contestants, Baylor and UCLA, are "actual universities. They have campuses, buildings, accredited faculty and a student body that matriculates, graduates and becomes a proud alumni base." The there's Bridgepoint, which the publication calls "a diploma mill," although it points out that more than 60% of students drop out. The publication rattles off some facts that have been reported here many times, and repeats a classic line: Sen, Tom Harkin calling Bridgepoint "a scam, an absolute scam."

Classic!!!!!!!!!!!!!!!! :)

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Don Bauder Dec. 18, 2012 @ 2:19 p.m.

SurfPup: Apparently, the San Diego business community still considers Bridgepoint a great civic asset and excellent educational institution. Best, Don Bauder

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SurfPuppy619 Dec. 18, 2012 @ 7:04 p.m.

It is not a civil asset at all, it is a predatory fraud outfit ripping off the poor, and ultimately the nation taxpayers who foot the student loan bills that will never be able to be paid back because the they all drop out and the ones who do graduate cannot get a job (can you say Thomas Jefferson and Cal Western Law Schools).

Duncan Hunter Mini-Me and his pals in the Congress should be ashamed of promoting this scam outfit. But then again this is just a huge fraud scam with Hunter and the rest of the leeches getting laundered money kickbacks from Bridgepoint.

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Don Bauder Dec. 18, 2012 @ 9:52 p.m.

SurfPup: One of the big promoters of for-profit colleges is Jack Welch, ex- of General Electric, the massive U.S. conglomerate that has figured out how not to pay taxes. I don't know that Welch backs Bridgepoint, but I know he backs several for-profits. And at the same time, he inveighs against excessive government and welfare, when in fact these for-profit schools suck on the government teat 24 hours a day. Best, Don Bauder

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SurfPuppy619 Dec. 19, 2012 @ 4:43 a.m.

One of the big promoters of for-profit colleges is Jack Welch, ex- of General Electric

Is this the same Mr Welch who is the President's "Job Creation Czar"?????

The same Mr Welch who shipped all of GM's manufacturing jobs overseas and is then put in charge of finding a way for the country to get those same jobs back to America????

When Mr. Welch backstops the losses then he can make all the claims he wants to about any college that has a business model where the nations taxpayers are covering the losses of the MAJORITY of students at a school getting student loan money. And that goes to for profit as well as non profit schools.

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Don Bauder Dec. 19, 2012 @ 6:44 a.m.

SurfPup: Obama's job creation czar is Jeff Immelt, Welch's handpicked successor at General Electric. This is a joke, because GE has shipped jobs overseas in an endless stream. Best, Don Bauder

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Visduh Dec. 19, 2012 @ 6:48 a.m.

When Welch left GE, he had his reputation as a no-nonsense, hard charger firmly established, even with a biography that sold well. And then . . . His tenure there was later shown to be rife with questionable accounting and short-run moves that were coming back to haunt. The industrial giant he inherited was by then more of a financial corporation, and not a very well-run one at that. He should be fully discredited by now, but what happens? He is honored as the sort of exec who has the answers to "tough" problems. The fact that Welch likes this for-profit educational model as epitomized by Bridgepoint should make us all the more skeptical rather than confident.

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Don Bauder Dec. 19, 2012 @ 6:58 a.m.

Visduh: Well said. Welch cooked the books at GE -- greatly through dubious accounting at the finance subsidiary, but also by making an acquisition every quarter. So not long after Welch left (with an embarrassingly lavish retirement package), the cognoscenti knew that he was a bit of a charlatan. But he kept writing magazine columns, appearing on TV, etc. as a management expert. He and his wife, also an executive, did a song and dance routine. People who knew the truth about his book-cooking gagged. Best, Don Bauder

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dwbat Dec. 18, 2012 @ 1:25 p.m.

On their website it proclaims: "Former San Diego Mayor Jerry Sanders has been named the 2012 Honorary Chairman of the Bridgepoint Education Holiday Bowl."

I assume Mayor Filner was NOT interested in this so-called honor. Shame on Sanders for associating with these scammers.

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Don Bauder Dec. 18, 2012 @ 2:21 p.m.

dwbat: Well, the local chamber of commerce, which Sanders has been named to head, has always enthusiastically supported Bridgepoint. This is an embarrassment to San Diego. Best, Don Bauder

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