Today, The Center for College Affordability and Productivity released a study on for-profit higher education. The study found that industry leaders aim to create value for their students by “employing cost-effective strategies to meet market demand.” Supported by Lumina Foundation, the report also found:
‘The single characteristic that most sets for-profit institutions of higher learning apart from the traditional sectors of higher education is the profit motive,’ and economic theory suggests that for-profit schools ‘can only make a profit by providing educational services that are in high demand…[and by providing] something of value for the customer.’
I found this study interesting in its conclusion that the for-profit industry provides a valuable service to students. At a time when many critics are calling for major reforms of the industry, this study found that private sector schools were doing their best to give students the best possible educational experience.