More than a third of that, approximately $35 billion, went to grad students. The 20 schools drawing the highest levels of federal loan dollars pulled in $6.6 billion, representing an astound 20% of the $35 billion total.
Institutions Receiving the Most Grad Student Loan Disbursements, 2013-14
Institution name
| Type | Amount |
Walden University
| For-Profit | $756,336,024 |
Nova Southeastern University
| Private-Nonprofit | $532,479,305 |
University of Phoenix (APOL)
| For-Profit | $493,078,509 |
New York University
| Private-Nonprofit | $471,627,155 |
University of Southern California
| Private-Nonprofit | $460,167,597 |
Capella University (CPLA)
| For-Profit | $399,450,066 |
Liberty University
| Private-Nonprofit | $351,847,277 |
Midwestern University
| Private-Nonprofit | $335,146,070 |
Grand Canyon University (LOPE)
| For-Profit | $329,153,677 |
Strayer University (STRA)
| For-Profit | $284,209,616 |
Columbia University
| Private-Nonprofit | $241,667,574 |
St. George's University, School of Medicine
| Foreign-For-Profit | $241,203,227 |
Kaplan University
| For-Profit | $226,598,462 |
Ross University School of Medicine
| Foreign-For-Profit | $218,874,479 |
Georgetown University
| Private-Nonprofit | $214,982,053 |
DeVry University (DV)
| For-Profit | $214,752,052 |
George Washington University
|
Private-Nonprofit
| $206,524,570 |
Argosy University
|
For-Profit
| $201,828,298 |
Rutgers, The State University of New Jersey
|
Public
| $192,355,258 |
| Western University of Health Sciences |
Private-Nonprofit
| $185,081,134 |
Source: U.S. Department of Education and Center for American Progress
(via Yahoo ht Bryan Ripp)
-RW
WTF!
ReplyDeleteThese are crazy crazy numbers.
3/4 of a billion dollars to something called Walden University. Never heard of it. Looked it up. Check out the entry in Wikipedia. This is cronyism par excellence.
What an incredibly wealthy place the US has been to have survived decade upon decade of massive looting by one interest group after another, from weapons manufacturers to agriculture to the medical industry to education and on and on.
What sort of world would we be living in today had Lincoln met his maker before 1860, had the US not entered WW1, had Mises won the mantle of the world's Godfather Economist, and just a few other modifications to history.
The thin 16GB computer I carry in my pocket, a device that instantly links me to anyone anywhere on the planet and brings me any sort of information I can dream of wanting, this device is a but a grain of sand on a beach compared with what might have been. We could be measuring our lives in centuries. Could the nuttiest science fiction writer out there imagine what might have been?
I blame Bastiat’s extortionists, Rand’s witchdoctors, Rothbard’s state.
As Lew Rockwell might say, it’s just another reason to hate the state.
One of the three vice principals when I was in high school took her PhD from Walden.
DeleteThese aren't even close to being the top crony colleges. The public universities in California, Texas, New York and Florida receive between $2 billion and $4.9 billion per year in state and federal funding. The difference between "public" and "private" is meaningless when it comes to using taxpayer money to support the crony friends of politicians
ReplyDeleteThat's what I thought as well. Most of these schools don't have a law school, a business school, or a medical school, all graduate programs that rarely, if ever, give out scholarships.
DeleteColumbia is the ONLY Ivy? Rutgers ranks higher than the CAL system? Where's Stanford, Yale, Harvard, MIT, Caltech, etc., etc.? Smells funny to me.
They "earn" their tax funds the old fashion way... through research grants and tax favored expenditures.
DeleteOne further comment. The source of the original story is revealing. The U.S. Department of Education works hand in glove with the public universities and have been shouting loud and long that it is the "for profit" universities that are abusing the government student loan guarantees. The "for profit" schools serve a fraction (less than 10%?) of the post-secondary student population and receive a much lower portion of total tax subsidies than the public universities. The Dept. of Ed and the public universities are pointing the finger at the "for profits" in an attempt to divert attention from their much larger taxpayer rip-off. Tax funds are flooding into the public universities to such an extent that even the MSM recently took note with an article that suggested this flood might be one of the reasons for the rapid rise in the cost of a university education (more rapid than even healthcare costs). DO YOU THINK?!!!
ReplyDelete