AllTideUp
Heisman
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Grand Canyon University and the for-profit model
I thought this article was interesting.
GCU is only for profit school in Division 1
They're making a ton of money through online enrollment and I suppose eventually they will have to alter some practices in order to obtain non-profit status again, but what they've been able to accomplish since 2004 is impressive to me.
Looks like they have a 1st class basketball arena as well and are still growing as a campus.
Depending on how things go in the future, I wonder how their rapid growth will affect realignment.
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02-21-2018 04:42 PM |
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Wedge
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RE: Grand Canyon University and the for-profit model
IIRC, it was mentioned in a different article that the obstacle to GCU becoming a nonprofit institution is that they would have to buy out the shareholders of the for-profit corporation, which would require a very large amount of money. A good guess is that to do that buyout, they would have to take out large bank loans using the university's real estate as collateral, if they could even borrow that much.
EDIT: They're not proposing to buy out the shareholders of the corporation. They're proposing to create a relatively small nonprofit that would own the campus properties and employ professors and other instructors. The for-profit corporation would continue on and would provide most administrative functions to GCU under a contract with the nonprofit corporation.
(This post was last modified: 02-22-2018 01:17 AM by Wedge.)
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02-21-2018 06:09 PM |
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billybobby777
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RE: Grand Canyon University and the for-profit model
GCU is the only school to do it The for profit way. And they are rightly ridiculed for it. It’s shameful.
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02-21-2018 06:38 PM |
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YNot
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RE: Grand Canyon University and the for-profit model
(02-21-2018 06:38 PM)billybobby777 Wrote: GCU is the only school to do it The for profit way. And they are rightly ridiculed for it. It’s shameful.
I don't know much about the for-profit education model. Why is it shameful?
Aren't there for-profit hospitals, medical clinics, health insurance programs, charter schools, etc.?
The NFL is a non-profit. Is the for-profit versus non-profit dichotomy really the clear standard to measure funding models, intentions and morality?
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02-21-2018 06:42 PM |
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Shox
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RE: Grand Canyon University and the for-profit model
(02-21-2018 06:38 PM)billybobby777 Wrote: GCU is the only school to do it The for profit way. And they are rightly ridiculed for it. It’s shameful.
Why? I think it actually might be a sustainable model for smaller schools going forward. They still have to pass all regulatory bodies that have to do with accreditation. If they are churning out well qualified employable graduates, then who cares?
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02-21-2018 07:11 PM |
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Chappy
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RE: Grand Canyon University and the for-profit model
There are some for-profit schools that take advantage of people who can't get into traditional schools. Others are fine.
The old school colleges and universities however look down on the for-profit schools, though, because that's what they do. They are very snobby.
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02-21-2018 07:15 PM |
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Lopes87
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RE: Grand Canyon University and the for-profit model
GCU will hear as early as next week if their 2nd application of going back to nonprofit is approved and those at GCU feel as if they will be granted their wish of becoming nonprofit again.
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02-21-2018 08:24 PM |
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NoDak
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RE: Grand Canyon University and the for-profit model
(02-21-2018 07:11 PM)Shox Wrote: (02-21-2018 06:38 PM)billybobby777 Wrote: GCU is the only school to do it The for profit way. And they are rightly ridiculed for it. It’s shameful.
Why? I think it actually might be a sustainable model for smaller schools going forward. They still have to pass all regulatory bodies that have to do with accreditation. If they are churning out well qualified employable graduates, then who cares?
Socialist professors and administrators are up in arms. A for-profit education college is a threat to their very existence. Public U's have a right to raise tuition every year by 10% with help by government loans to keep their gouging system.
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02-21-2018 08:26 PM |
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dbackjon
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RE: Grand Canyon University and the for-profit model
(02-21-2018 08:26 PM)NoDak Wrote: (02-21-2018 07:11 PM)Shox Wrote: (02-21-2018 06:38 PM)billybobby777 Wrote: GCU is the only school to do it The for profit way. And they are rightly ridiculed for it. It’s shameful.
Why? I think it actually might be a sustainable model for smaller schools going forward. They still have to pass all regulatory bodies that have to do with accreditation. If they are churning out well qualified employable graduates, then who cares?
Socialist professors and administrators are up in arms. A for-profit education college is a threat to their very existence. Public U's have a right to raise tuition every year by 10% with help by government loans to keep their gouging system.
LOL
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02-21-2018 08:29 PM |
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teamvsn
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RE: Grand Canyon University and the for-profit model
A friend's daughter goes to GC. She likes it.
I've worked for a non-profit. In theory, a non-profit is just like a for-profit except the target is 0% return on revenues rather than (say) 10%. In reality being a non-profit means that you think many other things are more important than money, and the result is a lot of inefficiencies that would never be tolerated in a for-profit organization. Got an incompetent secretary? Well, she's been having a rough time so we need to support her. She figures out that as long as she's having a tough time, she's got a job. Lots of examples like that to be had. So a for-profit organization has a lot of advantages over a non-profit, summarized with the idea that a for-profit has easily identifiable and measurable goals with which to judge performance.
And this puts non-profit competitors under pressure. They don't like it.
On the other hand, the long term academic measurables of Grand Canyon aren't in yet. I understand they tend to over-rely on adjunct professors that are transient in nature. I'm not sure this can lead to good academic outcomes.
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02-21-2018 08:31 PM |
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Jjoey52
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Grand Canyon University and the for-profit model
I have a friend whose son goes to GCU. He is getting a quality education and really likes the campus. At least they are honest in being a for profit school, which is more honorable than some of the non profits who are raking in the cash.
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02-21-2018 11:18 PM |
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Captain Bearcat
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RE: Grand Canyon University and the for-profit model
(02-21-2018 07:11 PM)Shox Wrote: (02-21-2018 06:38 PM)billybobby777 Wrote: GCU is the only school to do it The for profit way. And they are rightly ridiculed for it. It’s shameful.
Why? I think it actually might be a sustainable model for smaller schools going forward. They still have to pass all regulatory bodies that have to do with accreditation. If they are churning out well qualified employable graduates, then who cares?
I agree.
People in most Western countries used to think that electric utilities, airlines, aerospace, shipbuilding, and oil companies needed to be non-profit. Then Margaret Thatcher privatized (or privatised, as she would write) about 50 British firms in the 80s. The result was not only an economic boom, but also a burst of innovation in those industries. It was so successful that over 100 countries initiated privatization programs in one form or another.
There is no fundamental reason why education needs to be non-profit.
The main reason education is non-profit is that government firms dominate the industry. You can't compete against the government: they can (and will) operate at a loss, change the rules of the game, and play dirty to drive you out of business.
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02-22-2018 01:58 PM |
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esayem
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RE: Grand Canyon University and the for-profit model
Does a master’s even mean anything anymore?
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02-22-2018 09:01 PM |
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joeben69
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RE: Grand Canyon University and the for-profit model
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02-23-2018 03:25 AM |
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