5 ms·

Anyone care to shed some light on what precipitated this?

by jaboutboul 9y ago

throwaway7645 9y ago
I'd like to know this too. Their prices are very high, so maybe the demand subsided?
- smt88 9y ago
  It seemed to be a gold rush. Too many schools opened, crowding the market and driving prices down. I've personally been swamped in bootcamp graduates' resumes, even though my listing specifically says "5+ years experience". That tells me that they're desperate and bulk-applying. I've also heard this anecdote from others -- totally swamped by bootcamp grads. It's a free market, and the demand for bootcamp grads is now lower than the supply. That's exactly what you'd expect, isn't it?
  - throwaway7645 9y ago
    Makes sense. Thank you.
patio11 9y ago
Can I make a comment which is not specific about this school, to which I have no connection, or to coding bootcamps? For-profit education is a regulated industry in the United States and is experiencing significant adversarial attention at the moment, as a result of widespread looting of federal tuition assistance programs, to the tune of billions of dollars. Can I name a Greek god who has non-zero relevance to this story? Apollo.
- brooklyn_ashey 9y ago
  Why Apollo? I got this from Wikipedia: "...Apollo was also seen as a god who could bring ill-health and deadly plague." In that case...I see your point.
  - christophilus 9y ago
    http://www.apollo.edu/ http://www.apollo.edu/
    - brooklyn_ashey 9y ago
      oh, okay. thanks. but still funny anyhow.
  - packetized 9y ago
    http://blog.theironyard.com/2015/07/02/the-iron-yard-strategic-investment-from-apollo-education-group/ http://blog.theironyard.com/2015/07/02/the-iron-yard-strateg...
  - swyx 9y ago
    thanks.. that reference was a little too oblique for me
- valuearb 9y ago
  The sad thing is that all higher level education in the U.S. is for profit. 30 years ago you could go to an average state college for $4,000 a year, that cost is roughly 10x as much. Where has all the money gone? Take a look at the salaries of school presidents, administrators, coaches, even professors, especially their pensions and benefits programs. Its as if all our non-profit institutions are really profit hungry corporations in disguise, and the "shareholders" are the administrators who control them.
  - ams6110 9y ago
    It's not the administrative salaries so much as the bloat. Look at the org chart of any major state school 30 years ago compared to today. Coach salaries tend to be eye-catching but they are generally entirely funded by the athletic department and its supporters, not tuition or state funds.
    - munin 9y ago
      > Coach salaries tend to be eye-catching but they are generally entirely funded by the athletic department and its supporters, not tuition or state funds. This is only true at a small number of schools. Most subsidize the athletics department through fees they levy on students in addition to the normal tuition.
      - prh8 9y ago
        This is correct, in any given year there are less than 10 schools whose athletic departments are profitable. However, this simple fact ignores the positive economic impact that athletic programs can have on a university that aren't purely P&L in the department.
    - valuearb 9y ago
      Athletic department revenues are entirely property of the school, and partly funded by mandatory student fees. The NCAA could cap coaches salaries at $250,000 and the line of qualified candidates to become a NCAA coach would still be out the door for every school. Instead they allow coaches and athletic directors to coordinate a conspiracy where they and their employees get to skim all of the profits of the program for themselves. When you are "forced" to pay your AD over a million dollars a year, that's the best possible thing to justify paying the president far more.
- adrianmonk 9y ago
  It was experiencing scrutiny from regulators, but now we have a new Secretary of Education who seems to think that sort of regulation is bad and is letting up on it. http://www.knoxnews.com/story/opinion/columnists/mark-harmon/2017/07/19/devos-overlooks-abuses-profit-colleges/492583001/ http://www.knoxnews.com/story/opinion/columnists/mark-harmon...

Anyone care to shed some light on what precipitated this?

throwaway7645 9y ago

I'd like to know this too. Their prices are very high, so maybe the demand subsided?

smt88 9y ago
It seemed to be a gold rush. Too many schools opened, crowding the market and driving prices down. I've personally been swamped in bootcamp graduates' resumes, even though my listing specifically says "5+ years experience". That tells me that they're desperate and bulk-applying. I've also heard this anecdote from others -- totally swamped by bootcamp grads. It's a free market, and the demand for bootcamp grads is now lower than the supply. That's exactly what you'd expect, isn't it?
- throwaway7645 9y ago
  Makes sense. Thank you.

patio11 9y ago

Can I make a comment which is not specific about this school, to which I have no connection, or to coding bootcamps? For-profit education is a regulated industry in the United States and is experiencing significant adversarial attention at the moment, as a result of widespread looting of federal tuition assistance programs, to the tune of billions of dollars. Can I name a Greek god who has non-zero relevance to this story? Apollo.

brooklyn_ashey 9y ago
Why Apollo? I got this from Wikipedia: "...Apollo was also seen as a god who could bring ill-health and deadly plague." In that case...I see your point.
- christophilus 9y ago
  http://www.apollo.edu/ http://www.apollo.edu/
  - brooklyn_ashey 9y ago
    oh, okay. thanks. but still funny anyhow.
- packetized 9y ago
  http://blog.theironyard.com/2015/07/02/the-iron-yard-strategic-investment-from-apollo-education-group/ http://blog.theironyard.com/2015/07/02/the-iron-yard-strateg...
- swyx 9y ago
  thanks.. that reference was a little too oblique for me
valuearb 9y ago
The sad thing is that all higher level education in the U.S. is for profit. 30 years ago you could go to an average state college for $4,000 a year, that cost is roughly 10x as much. Where has all the money gone? Take a look at the salaries of school presidents, administrators, coaches, even professors, especially their pensions and benefits programs. Its as if all our non-profit institutions are really profit hungry corporations in disguise, and the "shareholders" are the administrators who control them.
- ams6110 9y ago
  It's not the administrative salaries so much as the bloat. Look at the org chart of any major state school 30 years ago compared to today. Coach salaries tend to be eye-catching but they are generally entirely funded by the athletic department and its supporters, not tuition or state funds.
  - munin 9y ago
    > Coach salaries tend to be eye-catching but they are generally entirely funded by the athletic department and its supporters, not tuition or state funds. This is only true at a small number of schools. Most subsidize the athletics department through fees they levy on students in addition to the normal tuition.
    - prh8 9y ago
      This is correct, in any given year there are less than 10 schools whose athletic departments are profitable. However, this simple fact ignores the positive economic impact that athletic programs can have on a university that aren't purely P&L in the department.
  - valuearb 9y ago
    Athletic department revenues are entirely property of the school, and partly funded by mandatory student fees. The NCAA could cap coaches salaries at $250,000 and the line of qualified candidates to become a NCAA coach would still be out the door for every school. Instead they allow coaches and athletic directors to coordinate a conspiracy where they and their employees get to skim all of the profits of the program for themselves. When you are "forced" to pay your AD over a million dollars a year, that's the best possible thing to justify paying the president far more.
adrianmonk 9y ago
It was experiencing scrutiny from regulators, but now we have a new Secretary of Education who seems to think that sort of regulation is bad and is letting up on it. http://www.knoxnews.com/story/opinion/columnists/mark-harmon/2017/07/19/devos-overlooks-abuses-profit-colleges/492583001/ http://www.knoxnews.com/story/opinion/columnists/mark-harmon...