Tuesday, May 19, 2020
For-Profit Colleges Chew Up Ohio CARES Act Higher Ed Money
While much of the focus on the $2.3 trillion CARES Act has been on the K-12 funding provided in it, the $13.5 billion in higher ed money was also a large inevstment. However, according to data compiled by the University of Wisconsin, in Ohio, students in for-profit colleges have received more than double the amount of per student funding than students in Ohio's public and private, non-profit colleges and universities.
This is not the outcome that was needed.
Here is the average per student CARES Act funding by college type:
What's also interesting is private, non-profit colleges received more CARES Act, taxpayer funding than Ohio's public universities.
In fact, there is only 1 four-year public university of 14 (Central State) and 8 2-year public colleges (of 69) that received more CARES Act per student funding than the average for-profit college.
How for-profit colleges and private, non-profit colleges receive more per student CARES Act funding than public colleges and universities is shocking. One would think that public stimulus funding should benefit publicly funded institutions more than the non-taxpayer funded institutions.
But what do I know.