Financial Aid for Higher Education

Proposed changes to financial aid regulations in the U.S. (Title IV) have put for-profit education institutions under fire. The argument goes that there has been a misuse of public funding to benefit the institutions in favor of the students that they are supposed to serve.

If this is the case than it should stop immediately. The government should verify that money spent by for-profit education bodies is for the betterment of students, backed up by measurable results.

However, we should not ‘throw the baby out with the bathwater’. For-profit online universities have enabled millions of adults to go back to school. Indeed, there is a strong need to dramatically increase higher education places for students. Traditional universities have never met the growing need for more seats in class, nor for the flexibility needed by students juggling work, family and education concurrently.

For-profit on-line colleges enable greater numbers of people to pursue higher education and deserve credit for their pioneering work in developing eLearning solutions. Indeed, they created a way of learning that fits our contemporary world and, without that foundation, we could never have created a place like University of the People (UoPeople). We, at UoPeople, a not- for profit on-line university, humbly admit that we have much to learn from the for-profit education world.

What do you think about the role of on-line universities?

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About President Shai Reshef

Starting in 1989, Shai Reshef served as chairman of the Kidum Group, a test preparation company, which he sold in 2005 to Kaplan, one of the world’s largest education companies. While chairman of Kidum, he built an online university affiliated with the University of Liverpool, enrolling students from more than 100 countries; that business was sold to Laureate, another large for-profit education company, in 2004. A vessel for universal higher education, UoPeople has the enormous potential to function as a global stimulus package, reaching even the most remote and poorest places on earth. Our ultimate mission is to democratize higher education and, if the past two years are any indication, this is not merely a pipe dream.
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2 Responses to Financial Aid for Higher Education

  1. Prashanth says:

    UoP initiative is the exact kind of initiative that is needed to break through the profiteering in education at the cost of access to education. Although not as serious as in access to health care, access to good quality education is a human right. States should strive to create an enabling environment for such initiatives to address the increasing inequity in access to education.

  2. Nigusse says:

    I am BA degree holder in Accounting ,and want to learn MS degree but I have shortage of money,as the result I need your help.

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