default. 122 This is because FPIs typically cost more than non-profit institutions (“NPI”) and enroll students that typically have backgrounds with lower-income and have parents with lower levels of education. 123 Essentially, FPIs are taking advantage of the hopes and dreams of individuals who want little more than to better their life and career prospects in order to maximize the company’s value. 2.
Non-Profit Universities
It has recently become apparent that even the traditional non-profit higher education institutions are not always sincere in their representations. Although the prospects of a quality education and ability to find employment are typically better at non-profits than FPIs, the former are still guilty of inflating their employment numbers and other statistics which mislead students. Recently, George Washington University, what is typically thought of as a pristine institution of higher education, was taken off the U.S. News rankings due to its admission of falsifying statistics regarding its freshman class. 124 Villanova University School of Law likewise plummeted in the law school rankings after it came to light that a few administrators had lied about admissions data for almost a decade. 125 Likewise, University of Illinois recently admitted to falsifying admissions data for its law school. 126
122 See Sipley, supra note 81, at 267-68, 274-76 (noting that FPIs have “higher drop-out rates [and] have students graduate with higher debt loads. . . .”). 123 See id. at 275 (discussing fact that majority of students at FPIs have higher risk of defaulting on loans); See also infra Exhibit G. 124 See Jenna Johnson, George Washington University ‘Unranked’ by U.S. News, WASH. POST (Nov. 14, 2012), http://www.washingtonpost.com/blogs/campus-overload/post/george-washington-university-unranked-by-usnews/2012/11/14/d07d2d76-2e83-11e2-9ac2-1c61452669c3_blog.html (last visited Oct. 25, 2014). 125 See Martha Neil, Villanova Says Inaccurate LSAT and GPA Data Were ‘Knowingly Reported’ to the ABA in Prior Years, ABA J. (Feb. 4, 2011), http://www.abajournal.com/news/article/new_villanova_law_dean/ 126 See Mark Hansen, U of Illinois Law School Admits to Six Years of False LSAT/GPA Data, ABA J. (Nov. 7, 2012), http://www.abajournal.com/news/article/illinois_law_admits_to_six_years_of_false_lsat_gpa_data/
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