Amazing Stat of the Day (U of Phoenix Edition)
The Daily Beast has a piece on the woes of the University of Phoenix: Death of a Diploma Mill: University of Phoenix Going Down in Flames?
There is a lot to be said about this, but I do not have the time at the moment. Regardless, I was truly shocked by the following stat:
According to Department of Education data, the University of Phoenix online campus has a graduation rate of 7.3 percent and a loan default rate of 19 percent—5 percent higher than the national average.
Wow. That truly surprises me—and is thoroughly damning. (And that is within 6 years, not 4).
The only good news is that it is harder to call the place a “diploma mill” if they aren’t producing very many diplomas.