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> The federal government helped kick off the gold rush in 2011. The Education Department, under the Obama administration, loosened its guidance on revenue-shari
by 1024core 2y ago
> The federal government helped kick off the gold rush in 2011. The Education Department, under the Obama administration, loosened its guidance on revenue-sharing relationships between colleges and for-profit companies.
Thanks Obama!
- alephnerd 2y agoBlame Harvard and MIT - they founded EdX and used it to print a buttload of money with extremely high margins. Everyone else is just copying that model.
- __rito__ 2y agoIn the cases of Harvard and MIT, actual, regular Harvard and MIT faculty taught the courses. That's a huge difference.
- underlipton 2y agoThis feels like it might have had something to do with the likely demise of a bunch of for-profit "educators" (ITT, AI, and the like). That was still a few years away, but the writing was on the wall for investors who wanted to get off the sinking ships but still continue the grift. I suppose the view on the government side was that for-profit education wasn't an inherently corrupt venture, but that the independent nature of the companies involved made the profit motive take precedent, and that tying them to institutions with their reputation on the line would help to maintain instruction quality. So much for that.