universities trying to get you to use your benefits paying for something like an $81,000 video game art program with a 14% graduate rate. mitt romney is a presidential candidate is not just tied to full sale university. he has been a big proponent of the industry. he will be speaking at another for profit college this weekend in north carolina. mr. romney plating his trough with this industry and doing so very aggressively has had a hopeful effect of putting a spotlight on this incredibly profitable industry and how much we are all paying them to become so profitable. this past month tom harkin and the senate released a report on the industry, the product of a two-year investigation. the report was not good. for-profit colleges charge tuition and often provide an inferior education by experiencing sky high dropout rates, how are they able to recruit a steady stream of new students? the answer is that for-profit colleges are what i would call a marketing machine. whether or not you
marketing machine. whether or not you graduate, whether or not your degree is worth anything in terms of getting you a job, perhaps in the video game art field, whether or not you are able to ever repay the loans that you took out to be able to pay for these expensive programs, the business model of the for-profit school industry is to market to you aggressively, to get you to sign up. to then get you to take out loans to pay your tuition to the school, and then to cash those loan checks. they get paid and you owe the money to whoever gave you the loan. and more often than not, the entity that gave you the loan is the federal government. in the 2009 school year, for-profit schools got paid $32 billion in federal money. one out of every four dollars the education department put out in student aid went to a for-profit school. this is students taking out federally supported student loans to pay these schools. the reason we do that is because there s supposed to be a national interest in
mitt romney is a presidential candidate is not just tied to full sale university. he has been a big proponent of the industry. he will be speaking at another for profit college this weekend in north carolina. mr. romney plating his trough with this industry and doing so very aggressively has had a hopeful effect of putting a spotlight on this incredibly profitable industry and how much we are all paying them to be so profitable. tom hark in and the senate released a report on the industry, the product of a two-year investigation. the report was not good. for profit colleges charge tuition and often provide an inferior education by experiencing sky high dropout rates, how are they able to recruit a steady stream of new students? the answer is for profit colleges are what i call a marketing machine.
that final note. that s michael jordan leaving from half court to dunk. she can stand there in a track suit and there is no other time when i have ever felt the national anthem like that. right. well, marvin gaye s national anthem. okay. incredible. i haven t gone too deep any my own thoughts about whitney s loss and end of her life except it s really sad. but when i think about music and how it s changed, so much was invested in her. when you talk about this marketing machine, it was also a creative machine to try to find songwriters who could write for her amazing voice and the level of money they poured they banked pretty much everything on her. that won t happen today. a very different economic environment, the music industry is so different. and the millions and millions of dollars they pumped in and then got back out, that won t ever happen again. so a unique historical timing. i think about the glitzy 80 80s
p 80s with powerful men to expose her to all the powerful marketing machine that s possible and make them the biggest stars in the world. so there s this interesting arc that they re able to take advantage of, you know, malcolm glad well talks about good historical timing is important to becoming a superstar. they get that. the great talent that we know exists in black churcheses like new hope, actually becomes pop culture because of the historic moment in which it finds itself. it s interesting to hear you say that she feels like michael jackson in a certain way. certainly the loss feels similar. but, you know, hooer she was in fact this pop music icon during the time of hip-hop emerging. it felt to me like there was always a little bit of cultural tension around our appreciation for her talent and voice but the discordance aspect of that pop vis-a-vis hip-hop. you re absolutely right. there was a time