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- Jul 6, 2011
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From what I have heard, CNCP is a profit-based organization, and it seems like they are running their school like a business.
Each year the admission fee increases $2,000 even though the loans are hard to acquire. You would think that they would wait to receive full accreditation and receive federal financial aide before hiking the fees. Each class has about 100 students... Multiply that by four classes and you get 400 students... Now multiply 400 by $2,000 dollars and you get $800,000- that's more than 3/4 of a million dollar hike. So far this has been consistent from the first year that they opened to now. Each year the increase is consistently $2,000. Why are they increasing the fees so much especially considering that they are new, and they know the biggest issue with students is to get loans. They are increasing the financial burden knowing this. That is the same mentality of a business, all they care about is the end revenue and the net operating profits. I am sure they also care about the quality of teaching, but that's not all they care about, they are some what in it for the money $$$. They have to care about quality of teaching so there business thrives and gets full accreditation.
Lets just, for sake of argument, look at some non-profit organizations' tuition:
UCSF $28,506
UCSD $29,552
UOP $20,976
These are some top-notch schools, UCSF being #1 in U.S. hence being #1 in the world.
For Profit Organization:
CNCP $41,300
CNCP is the only one that I have found, so far, that is profit-based. With the highest tuition, and the lowest number of staff, I wonder what the employees get paid.
Not only is the tuition higher, but the interest accrues while in school and adds to the principal balance, and then you pay interest on your initial principle balance (borrowed money) plus the added interest. This means if you borrowed $160,000 then your loan becomes $180,000 (given 5% VARIABLE RATE- the lowest possible) once you graduate. However, I don't think the big wigs at CNCP really "care" about this. They just "wanna get paid". If they had waited for full accreditation and then increased the tuition, then it would have made sense because the extra burden of interest would have been released from the students, since federal loans don't add this burden on their loans.
But instead they just keep increasing the fees, and this year they extended the start date of there new class so that they could give more time for students to get approved for loans- so that they can get more money out of them. Why not stop the price hikes and make it easier for students to get loans???? Instead of extending the start date??? We are in a recession, so their "answer" to fewer approved loans was to extend the start date. They "will" make money whether there is a recession or not.
Unfortunately, there is nothing students can do about this. For some individuals this is the only school that they got accepted into, and there dream is to become a pharmacist. So they will fork over the money to get the job of there dreams. CNCP has utilized the Demand vs Price curve graph very efficiently.
Each year the admission fee increases $2,000 even though the loans are hard to acquire. You would think that they would wait to receive full accreditation and receive federal financial aide before hiking the fees. Each class has about 100 students... Multiply that by four classes and you get 400 students... Now multiply 400 by $2,000 dollars and you get $800,000- that's more than 3/4 of a million dollar hike. So far this has been consistent from the first year that they opened to now. Each year the increase is consistently $2,000. Why are they increasing the fees so much especially considering that they are new, and they know the biggest issue with students is to get loans. They are increasing the financial burden knowing this. That is the same mentality of a business, all they care about is the end revenue and the net operating profits. I am sure they also care about the quality of teaching, but that's not all they care about, they are some what in it for the money $$$. They have to care about quality of teaching so there business thrives and gets full accreditation.
Lets just, for sake of argument, look at some non-profit organizations' tuition:
UCSF $28,506
UCSD $29,552
UOP $20,976
These are some top-notch schools, UCSF being #1 in U.S. hence being #1 in the world.
For Profit Organization:
CNCP $41,300
CNCP is the only one that I have found, so far, that is profit-based. With the highest tuition, and the lowest number of staff, I wonder what the employees get paid.
Not only is the tuition higher, but the interest accrues while in school and adds to the principal balance, and then you pay interest on your initial principle balance (borrowed money) plus the added interest. This means if you borrowed $160,000 then your loan becomes $180,000 (given 5% VARIABLE RATE- the lowest possible) once you graduate. However, I don't think the big wigs at CNCP really "care" about this. They just "wanna get paid". If they had waited for full accreditation and then increased the tuition, then it would have made sense because the extra burden of interest would have been released from the students, since federal loans don't add this burden on their loans.
But instead they just keep increasing the fees, and this year they extended the start date of there new class so that they could give more time for students to get approved for loans- so that they can get more money out of them. Why not stop the price hikes and make it easier for students to get loans???? Instead of extending the start date??? We are in a recession, so their "answer" to fewer approved loans was to extend the start date. They "will" make money whether there is a recession or not.
Unfortunately, there is nothing students can do about this. For some individuals this is the only school that they got accepted into, and there dream is to become a pharmacist. So they will fork over the money to get the job of there dreams. CNCP has utilized the Demand vs Price curve graph very efficiently.
