Businesses of higher education are rising every year across the world, with many investors having a lasting appetite to make supernormal profits (Durrance, Maggio, & Smith, 2010; Gaviria, 2016) . According to the films, College Inc. and Subprime Education , college education has become the “new mortgage crisis” while those for-profit colleges being the “new sub-prime mortgages.” According to frontline’s College Inc., the competitive nature of the job market has forced many adults to return to school to advance their education. Most companies are now demanding a college degree before hiring any applicant. As such, the demand for college enrollment has surpassed the available number of community colleges available. The situation has made those willing to advance their education turn to on-line colleges that promise them to the convenience of graduating with masters or degree without attending traditional lectures (Durrance, Maggio, & Smith, 2010) . The problem is that these institutions are overcharge their students compared state universities. This leaves adult graduates with terrific amounts of debts that they are unable to repay. A Subprime Education also shares the same story where for-profit colleges are duping the government and students by claiming that they are expanding access to education, but in reality, they are after money. The for-profit colleges pretend to offer top-notch education, only to leave graduates in debts, and without degrees and skills to match the labor market ( Gaviria, 2016) . Based on these two stories, it is the government to blame since it has not provided an adequate support system, information and education to enable parents and students make informed college decisions to avoid running in debts.
The rising rates of students' debts and the problem of unemployment in graduates are constant since no action of reversal is put in place (Gelbgiser 2018). Even though they offer financial aid to students who are of great help to economy, they fail to regulate and monitor how these finances flow and how they are used. From the films, Collage Inc. and Subprime Education , the for-profit colleges and universities end up receiving almost 45% of the federal financial aid. This explains why most students who are in debt come from for-profit colleges and universities as they enroll only around 10% of the post-secondary students (Durrance, Maggio, & Smith, 2010; Gaviria, 2016) . In this case, the government is at fault for not monitoring the flow of the federal financial aid of students. Therefore for such problems to reduce in the United States, the federal government should set a pace and act accordingly.
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The federal government of the United States has a role to play in educating students and adults as well as avoiding such problems from accelerating further. From the films, the higher number of students attending for-profit colleges and universities are adults who are going back to school to advance their education with the hope of getting a promotion or a job (Durrance, Maggio, & Smith, 2010; Gaviria, 2016) . In this case, they attend their programs online, and this results in most of them not taking their classes seriously. The federal government is supposed to revise its regulations in the education sector to address these shortcomings. Moreover, the federal and state governments should allow and permit the Ministry of Education to take control of some actions. This include counterchecking the accreditation of for-profits colleges and universities and shut down those that are not properly accredited or those that are not following the laid down procedures (Iloh 2016). Through this, students will get certificates from accredited institutions that will help them get employment. Moreover, the federal government should not give loans to anybody, but they should be aware of whom they are offering loans to. Through this, they will reduce unemployment and debt in students in America.
Nevertheless, the federal and state governments should revise the regulations for for-profit colleges and universities. The federal government should put up some limitations to the extent of the business side of such institutions. This will enable the government to take the overall control of higher education institutions, whether non-profit or for-profit colleges and institutions in order to offer some protection to students. For-profits colleges and universities are headed by and controlled by investors who are mostly not after offering quality education to students but making huge profits. In this case, they can charge as high as they want, resulting in increased student debts and recruiting anybody that applies to the institution even after knowing they cannot afford their charges. However, when the government puts a limit to the tuition fees they charge and revise the recruiting process of these universities, such problems that the students face will be reduced.
As much as the US needs these for-profit colleges and universities, they also need to reform the regulations that govern the business side of higher education institutions. The truth will remain that for-profit colleges and universities are needed in the country as the non-profit institutions cannot cater for all the post-secondary students (Durrance, Maggio, & Smith, 2010; Gaviria, 2016) . As much as for-profit institutions are needed to make a profit, they do exaggerate their ways of generating it, putting so much pressure on the student. This sector has been taken to be the best source for generating free huge profits; therefore, everyone wants to open or buy for-profit colleges and institutions. In the end, for-profit higher education institutions have been converted to a business ground where free money is generated with the focus of providing quality education, taking a shift as well as fading. Considering this, the federal government has a role to play in putting some limits to the extent of the businesses going on in such institutions. It should provide a system where such institutions are able to generate their profits without depending on the federal financial aid given to students. Moreover, the government should offer education to students and parents of which institutions are well accredited as well as which are the best and genuine institutions they can apply for their programs. This will help students and parents to avoid for-profits institution that is not genuine and is not properly accredited to avoid high debts.
In conclusion, the federal government should take full control of the education systems and should be aware of what is going on in that industry. It should follow up on the reforms they put in place to ensure that the for-profit colleges and universities abide by them as well as students. Through this, the for-profit colleges and universities will be able to succeed in making profits and giving quality education to students. On the other hand, students will also succeed in getting a quality education with low loans and get employment with accredited certificates. In this case, unemployment of graduates will be reduced, and federal financial loans with low-interest rates will be given to those who need them.
References
Gelbgiser D. (2018). College for all, degrees for few: For-profit colleges and socioeconomic differences in degree attainment. Social Forces , 96(4),1785–1824.
Iloh C. (2016). Exploring the for-profit experience: An ethnography of a for-profit college. American Educational Research Journal , 53(3), 427- 455.
Durrance, C. (Producer), Maggio, J. (Producer) & Smith, M. (Producer). (2010). College, Inc. [Motion Picture]. United States: PBS Frontline.
Gaviria, M. (Producer). (2016). A Subprime Education . [Motion Picture]. United States: PBS Frontline.
