4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

For-profit colleges exploit African-Americans

Bridgepoint's Ashford among top two schools, says Salon.com

Salon.com has an excellent article dated June 9: "Young, black and buried in debt: How for-profit colleges prey on African-American ambition." Black college enrollment soared 35% between 2003 and 2009, almost twice the rate of white college enrollment, says the publication. "Between 2004 and 2010, black enrollment in for-profit bachelor's programs grew by a whopping 264%, compared to a a 24% increase in black enrollment in public four-year programs, " says the article. But this headlong rush has led to young people "finding themselves ripe for the con man's picking. They've landed, disproportionately, at for-profit schools, rather than at far less expensive public community colleges or at public universities. And that means they have found themselves loaded with unimaginable debt, with little to show for it, while a small group of financial players have made a great deal of money."

The two top producers of black graduates in 2011 were the University of Phoenix (whose publicly traded parent is Apollo Group) and Ashford University (whose publicly traded parent is San Diego's Bridgepoint Education.) Ashford accounts for almost all of Bridgepoint.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

Tiki Oasis, Miss You Like Hell, Sip of Julian

Events July 29-July 31, 2021
Next Article

San Diego vs. L.A. – guess who wins?

Seven wonders of our city, the noir side of town, the soul of San Diego, san diegan as metaphor

Salon.com has an excellent article dated June 9: "Young, black and buried in debt: How for-profit colleges prey on African-American ambition." Black college enrollment soared 35% between 2003 and 2009, almost twice the rate of white college enrollment, says the publication. "Between 2004 and 2010, black enrollment in for-profit bachelor's programs grew by a whopping 264%, compared to a a 24% increase in black enrollment in public four-year programs, " says the article. But this headlong rush has led to young people "finding themselves ripe for the con man's picking. They've landed, disproportionately, at for-profit schools, rather than at far less expensive public community colleges or at public universities. And that means they have found themselves loaded with unimaginable debt, with little to show for it, while a small group of financial players have made a great deal of money."

The two top producers of black graduates in 2011 were the University of Phoenix (whose publicly traded parent is Apollo Group) and Ashford University (whose publicly traded parent is San Diego's Bridgepoint Education.) Ashford accounts for almost all of Bridgepoint.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Comments
11

And now, I see a story that broke on Monday says that Ashford University has laid off 450 people, almost all of which are in the San Diego area. Most of them were "recruiters". Interesting...

June 13, 2013

aardvark: Damn. Some other publication apparently got that story first. I was tipped that there would be big layoffs but couldn't pin it down. Best, Don Bauder

June 13, 2013

I have to correct you on that one. None of the 450 were recruiters. The voluntary separation package was not offered to ANY of the admissions staff and Ashford is actively hiring more recruiters. Even more interesting....

June 15, 2013

SDblondie: Employees in admission are apparently exempt -- ditto faculty. Best, Don Bauder

June 15, 2013

They most certainly are/were. I find it fascinating that they are actively recruiting more admissions staff. Apparently you can't teach an old dog new tricks.

June 16, 2013

SDblondie: Historically, Bridgepoint has spent much more on recruiting students than it has spent on educating them. Best, Don Bauder

June 16, 2013

At least the Univ of Phoenix and Ashford are producing black grads. The real tragedy is when the students go deeply in debt and don't finish a program and don't ever get a degree. Those degrees may be nearly worthless in the job market, but they're still better than not getting anything at all.

June 14, 2013

Visduh: Ashford actually has a horrible dropout rate. According to a U.S. Senate study in 2010, almost two-thirds of bachelor's degree students had dropped out, and 84.4% of two-year students had quit.. And as you point out, they are stuck with a bundle of debt and no degree. Even if they graduate, they are not likely to get jobs. Best, Don Bauder

June 14, 2013

ASHFORD ANNOUNCES LAYOFF PROGRAM. Ashford University, which is almost all of San Diego's for-profit Bridgepoint Education, today (June 14) announced what it calls a voluntary layoff program. The company wants to align the size of its staff with enrollment. Over the last year, enrollment has dropped from almost 95,000 to about 79,000. Revenue and profits have also declined. Faculty and some other departments are exempt from the voluntary layoffs. Those accepting the layoffs will get three months of severance, according to media reports. Best, Don Bauder

June 14, 2013

Many in the investment community are acting as if they expect Bridgepoint stock to go up soon. Hedge funds are buying Bridgepoint at depressed prices. I think Congress is going to change the law soon and allow student loan debtors to file bankruptcy and walk on their loans. If that happens, Bridgepoint stock is going to zoom. I think the hedge funds know the law will change, and may even orchestrate the change behind the scenes in Congress in order to make their profit.

June 15, 2013

Burwell: This has been the history of Bridgepoint stock. There is always a very heavy short position. When the government comes out with regulation that is softer than the market expects, the shorts rush to cover, pushing the stock much higher. Of course, there is another factor now. Bridgepoint's Ashford University, which accounts for almost all its volume, is in danger of losing accreditation. If that happened, the company would collapse. On the other hand, if the company got accreditation, the threat would be removed, shorts would cover in panic, and the stock would soar. Best, Don Bauder

June 15, 2013

Sign in to comment

Sign in

Art Reviews — W.S. Di Piero's eye on exhibits Ask a Hipster — Advice you didn't know you needed Best Buys — San Diego shopping Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits City Lights — News and politics Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Excerpts — Literary and spiritual excerpts Famous Former Neighbors — Next-door celebs Feast! — Food & drink reviews Feature Stories — Local news & stories From the Archives — Spotlight on the past Golden Dreams — Talk of the town Here's the Deal — Chad Deal's watering holes Just Announced — The scoop on shows Letters — Our inbox [email protected] — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Of Note — Concert picks Out & About — What's Happening Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Pour Over — Grab a cup Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Drinks All Around — Bartenders' drink recipes Sheep and Goats — Places of worship Special Issues — The best of Sports — Athletics without gush Street Style — San Diego streets have style Suit Up — Fashion tips for dudes Theater Reviews — Local productions Theater antireviews — Narrow your search Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Waterfront — All things ocean Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close