For-Profit College Collaspe

In the recent past, there have been a lot of colleges and universities that have sprung up all over the country and also online. Some of these were a simple extension of an existing program but many of them were, in fact, a for-profit organization model. Colleges and universities traditionally do and can make money but are mostly under a not-for-profit classification due to the social benefits to the students and the community at large, they are similar to charities around the world, in this manner.

Higher education began within churches in the middle ages where students could enter a monastery, for example, to learn printmaking, languages, transcription, medicine, evangelism, or law to name a few. The educational edict then were expanded to educate more than just the people pledged to a lifetime commitment to the church and most of the early educators were those who had been apprenticed under the teachings of elders in the church.

For-profit schools sprang up all over the country in a recent boom and often filled in a gap that was left after many trade school closings.  These schools often were easy to enroll into and the registration process was more centered upon a student being approved for financial aid loans instead of having qualifications for the course type.  The end results left some students with a large amount of debt and not a lot of opportunities to use the training received.

The advent of for-profit higher educations began to unravel under scrutiny due to unfulfilled promises made to the students via job placement outcomes and educational credit transfer issues. Since these particular organizations were not in a charity classification, the organization could charge students tuition amounts in rages that weren't always equivalent to other programs.  However, they could be challenged to prove their outcomes just like other companies, and that is what has been bursting the bubble and many of these educational centers are closing.

If Kraft sells a cheese and claims that it improves your eyesight then the government has the right to make them prove their claim or be fined and sued for flause advertising. These types of action has been taken with the for-profit colleges resulting in school closures.

Le Cordon Blue is closing their US locations. As of January 2016, they have stopped enrollment and will close the doors completely by September 2017. In 2013, the schools, 50 locations globally,  settled a class-action law suit by former students who claimed that the diplomas they received didn't hold up to the promises of leading them to high-paying restaurant industry jobs and transferable college credits. This trend happened in many industries like automotive, nursing, medical billing and coding, beauty and cosmology, and paralegal programs.

http://www.chicagotribune.com/business/ct-cordon-bleu-closing-1218-biz-20151217-story.html