In May, this blog discussed the problems stemming from student debt and the massive inflation in college tuition. I noted — in particular — the problem of the availability of student debt being funneled into for-profit schools :
It finally delves into the fake innovation that has taken place where for-profit schools shamefully game the availability of financial aid and the desire for education, deriving 90+% of their revenues from government money, providing laughable education to their students, and saddling these “graduates” with debt that cannot be paid off when students re-enter the work force with the dubious training that they have received.
I just did a spot check on search advertising tracking firm SpyFu’s site today. It turns out that 4 out of Google’s top 8 advertisers are related to online education. The number #1 Google advertiser is the University of Phoenix, spending over $275,000 a day on Google’s search advertising. This represents a run rate of Google advertising of over $100 million annually from a single firm going to fuel the student debt three-card Monte.
Just remarkable on many levels.