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Watched an hour long documentary on for profit schools. Basically they reported the following:
1. Lots of new schools opening up programs in nursing, MBA, etc. (assuming some new pharmacy schools fall into this as well).
2. People at schools are promising once they graduate, they'll make X amount of dollars and have multiple job offers.
3. Programs are highly funded by government dollars via students from student loans (somewhere around 80%).
4. Government officials are finally taking notice of defaults from such programs and forming committees in congress to address issues. New ways to look at default rates and hold schools accountable.
5. Student loans can't be written off via any type of bankruptcy. They are with you for life.
6. Many financial experts are predicting this to be the next "financial bubble" to burst just like the housing crisis.
7. Profiled several students with massive student loan debt ranging from 70K to 250K that can not find jobs. Their credit scores are getting killed and one guy finally got a job only to have the government take money out of his paycheck to try to recoup the student loan money he'd borrowed leaving him to live off like $175 a week.
8. End result? Mass closure of programs?
My question to pose for debate, is do any of you think pharmacy schools are heading this route? Thoughts?
1. Lots of new schools opening up programs in nursing, MBA, etc. (assuming some new pharmacy schools fall into this as well).
2. People at schools are promising once they graduate, they'll make X amount of dollars and have multiple job offers.
3. Programs are highly funded by government dollars via students from student loans (somewhere around 80%).
4. Government officials are finally taking notice of defaults from such programs and forming committees in congress to address issues. New ways to look at default rates and hold schools accountable.
5. Student loans can't be written off via any type of bankruptcy. They are with you for life.
6. Many financial experts are predicting this to be the next "financial bubble" to burst just like the housing crisis.
7. Profiled several students with massive student loan debt ranging from 70K to 250K that can not find jobs. Their credit scores are getting killed and one guy finally got a job only to have the government take money out of his paycheck to try to recoup the student loan money he'd borrowed leaving him to live off like $175 a week.
8. End result? Mass closure of programs?
My question to pose for debate, is do any of you think pharmacy schools are heading this route? Thoughts?

