What Graduates Have to Say

For-profit colleges are businesses that aim to generate profit for their owners and investors. These colleges offer career training and degrees, but they’ve been subject to criticism and, in some cases, legal action. Although there are plenty of for-profit college attendees who’ve gotten a lot out of their time at one of these schools, there are also a great many former students who wish they’d considered a different kind of school.

Understanding What Makes a College “For-Profit”

For-profit colleges are businesses designed to make a profit. They’re owned by private companies and often have investors. Nonprofit colleges also generate revenue, but that money is reinvested in the institution to support education.

For-profit colleges often leverage aggressive marketing and student recruitment strategies. They focus on attracting nontraditional students, veterans, and people who are thinking about changing careers.

DeVry University and the University of Phoenix are two examples of prominent for-profit colleges.

What Graduates Say About Benefits

Many for-profit colleges market their flexible programs, allowing students to earn a certificate or degree while working and raising a family. For instance, Matt Lloyd wrote a review of University of Phoenix on OnlineU, saying, “What drew me to the program initially was the flexibility. Working full-time and managing family responsibilities, I needed a program that allowed me to learn on my own schedule—and this one delivered.”

Career-focused training is another potential benefit of attending a for-profit college. Christian Believer wrote in a review of Strayer University on OnlineU that, “Strayer University was a great investment. Upon graduation I noticed a major increase in interests from employers. I have gained confidence in areas such as marketing, financial statements, and business operations.”

Some graduates also report having positive experiences with instructors. On Consumer Affairs, Riquiahn wrote the following in a review of DeVry University, “The faculty at DeVry is genuinely committed to helping students succeed. Many of my professors have industry experience, which adds a layer of insight that I haven’t found elsewhere.”

For some graduates, the ability to earn a degree quickly is another pro of attending a for-profit college. Tucumcari Turner earned an MBA in human resources at Capella University and wrote in an OnlineU review, saying, “I was able to work around the clock and complete my degree quickly.”

What Graduates Warn Others About

Attending a for-profit college can be very expensive, and there’s no guarantee it’ll pay off. Graduation rates are lower than at other types of higher education institutions. And students may not feel like the investment was worth it.

Sherri Akers and her husband Sean took courses at for-profit institution Florida Metropolitan University (FMU). In an American Association of University Professors (AAUP) article, she shared, “We’re stuck with $40,000 in debt for the next 25 years of our life—for nothing.” Akers also noted that FMU, as a nationally accredited institution, didn’t explain that credits earned there wouldn’t transfer to many other educational institutions.

In a report published by the nonprofit Public Agenda, a for-profit college attendee said, “A lot of us really got screwed over with the so-called certificates that we earned. You might as well call it just a blank piece of paper because it’s no good anywhere and you still have that debt, too.”

For-profit college students represent 8% of all enrolled college students, yet they also represent 30% of student loan defaults, according to The Institute for College Access & Success.

While flexibility is one of the major selling points of for-profit colleges, some students haven’t experienced that benefit. In a report on for-profit education published by The Century Foundation, a woman named Ann explains that her workload for a health informatics certificate was unrealistic for a working adult with multiple responsibilities.

The debt incurred by for-profit college graduates can be compounded by a lack of career advancement. In The Century Foundation report, another woman named Sofia told her story of attending Ashford University with the goal of becoming a social worker. She went $60,000 into debt and discovered the degree didn’t include a clinical requirement employers wanted.

Making an Informed Decision

Before deciding to attend a for-profit college, be sure to take the following into account:

• Accreditation: Accreditation is an important factor when evaluating any higher education institute. Does the for-profit college have regional or national accreditation? If the college you’re considering has no accreditation, that’s a good reason to consider other options.

• Cost: For 2024 to 2025, the average price of tuition and fees at a for-profit college was $16,030. At public, four-year, in-state institutions during that same period, tuition and fees equaled an average of $11,310. Private, nonprofit, four-year schools were the most expensive at $41,740. Make sure you’re aware of any fees and how much interest you’d be charged on any student loans you’d take out so you can accurately compare costs.
• Outcomes: All colleges are going to market themselves as excellent options, so it’s worth digging deeper to find actual outcomes. What’s the college’s graduation rate? Its job placement rate? The U.S. Department of Education College Scorecard offers data on colleges’ cost, graduation rates, debt loads, and typical earnings for former students.
• Alumni experiences: Make an effort to talk to people who attended the for-profit colleges you’re considering. Did they have a positive experience? Did they think their investment was worth it? You can also read third-party online reviews and use networking platforms, such as LinkedIn, to reach out to alumni.

You can also compare your for-profit college options to alternatives, such as online public universities, community colleges, and trade schools.

The Bottom Line

For-profit colleges have a reputation for being expensive and not always delivering on career growth opportunities. Some students do regret shouldering the cost of a for-profit college program, while some have had a positive experience.

Aim to make a well-informed decision by developing a clear plan, researching any college you’re considering, and managing your expectations to ensure you’re making a worthwhile investment in your education.