You’ve Got to be Kidding Me

Experiencing the dangers of for-profit institutions first hand, I can’t help but try to warn people about the giant risk they are taking.

I sometimes find myself perusing The Art Institute’s Facebook page in an attempt to thwart some poor saps from a mountain of student debt.  They were offering an online open house and I thought I would attend, posing as a prospective student.  The link they sent me was broken so I missed the first 10 minutes of this chat session and it ended five minutes after I found it.

Anyhow, I questioned how someone with no income could pay their current tuition, which stands at $87,480. *jaw drop*  On top of that they add $2200 for books and digital resources, $6171 for program fees, and $68,580 for room and board.  The grand total for a BFA program is a whopping $164,431!

You’ve got to be *expletive* kidding me!

NAIVE YOUTH

This online open house was an open chat session.  All who were attending could see my question about how this school will cost you OVER $150,000.

NO ONE SEEMED TO CARE!  

When I questioned the AI reps about their grad employment statistics saying grads wind up making less than $30,000 annually…

NO ONE SEEMED TO CARE!  

WTF is wrong with this picture?  You will have over $150,000 in student loan debt when/IF you graduate (and it will likely be A HELL OF A LOT MORE since interest will accrue on the private loans you’ll have to take out) and you’ll make less than $30,000.  Recipe for disaster anyone?

They were all drowning in their fantasies, AI’s false hopes.  It frustrates me to no end that they can’t put two and two together to find out it makes $200,000!  I guess some people just have to make their own mistakes.

AIrich

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19 thoughts on “You’ve Got to be Kidding Me

  1. In this sort of system… keep the masses under-informed, ignorant or entirely misleaded. Whatever pays the most. As sad as can be, edu systems are for profit, so they will make sure they get their share, at whatever the expense. That’s why loan management courses are done after the last final of most students’ college life and not before it. Kids are fed the whole “be what you want to be”, so they’ll go for a romanticized degree that will not only prove to be insufficient to pay for a substandard lifestyle, but will also prove to be inadequate to pay for the loans to get the degree. Not to say that for those that choose college, nursing or business or other med degrees should be a priority. But know what you’re getting into if you go into the more obscure, known-to-be-lesser-paid careers.

    • Even with the knowledge of knowing what they’re getting into…in this case, over $150,000 is student debt, they are still “blindsided” by their own dreams and aspirations and believe that they’ll be one of the of the very few successful grads that actually wind up making more than $30,000. This stuff needs to be ingrained in our brains by the time we graduate from high school!

  2. Wow! That’s a decent sized house where I live! I can’t imagine having that much student debt and only getting a job that pays 30,000 per year. Most of my friends, however, will be coming out of school in similar situations and are still completely blind to the problem they are putting themselves in. When schools make loans a nonchalant issue, it becomes a non-problem to those who aren’t told anything different at any point in their lives.

    • Yes, and I hope one day we can reform the system so that instead of relying on a predatory lending system, we rely on the value of an education. Where tuition would be free or very cheap and graduates pay their tuition by contributing a certain percentage of their wages for 10 years or so.

  3. Wow I had no idea they would charge that much. And it’s not like getting an MBA which probably helps you land a good paying job at the end. I could probably teach the same video editing they teach there. hmmm, ha ha! I can’t believe no one even bat and eye when you called them out on the cost.

    • Yeah, the tuition they charge is RIDICULOUS! I don’t really get it either. I mean, I was kind of in their shoes in 2005 but I had no one warning me about the overall cost (I thought their tuition included housing costs…wrongo!) or burden of student loans. I wish I had someone warning me! I just can’t believe they’ll still walk willingly into this.

  4. That’s crazy. With college costing so much, people are starting to wonder if a degree, especially an advanced degree, is really worth it. I think it depends on the degree, but I do agree that tuition costs have gotten out of hand.

  5. Holy crap that’s craziness! I had a similar experience recently when randomly pursuing Le Cordon Bleu’s website—-over $50K for their 2-year pastry program….whaaaat!??! No wonder our country’s grads are drowning in debt and can’t get ahead for years after graduating!

    • Yikes! That’s craziness. It’s even more crazy that people are still falling for it! We need to be teaching kids in high school about the dangers of taking on that much debt!

  6. This is absolutely insane. What bugs me most is thay most of the stuff they teach you, especially at BFA can be found online. And the amounts of money these kids can save can could’ve lasted them several years of non-stop traveling and learning.

    • Totally agree. Actually, I probably could have learned a lot more online for free or much MUCH less than what I paid and I might have ended up actually qualified to work in my field! I fully regret going to college for my education!

  7. Pingback: Banking On Death | Debt Perception

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