Sounds like a bunch of people who work for GCU trying to justify their jobs. Since you guys didn't want to watch the video that makes it easy to understand, I'll try and make it simple. First off, I worked at the Arizona Department of Education. I have a damn good idea of how they operate at GCU. Also, I have friends who used to work at UofPhx who now work for GCU. Even they admit they do the exact same thing. In fact, the description I gave was exactly how one of my friends told me she operates. When she gets a lead that she has already spoken with a couple times who is on the fence, she goes to the trouble of filling out federal loan applications for them. She says it is just like a car dealership; if you make them think they have the money, they stop worrying about the cost.
Some numbers to back up:
School Default Rates FY 2009, 2008, and 2007
Arizona State University - 3.9%, 3%, 3.4%
University of Arizona - 4.1%, 4%, 3.7%
Grand Canyon University - 9.2%, 3.4%, 1.4%
University of Phoenix - 18.8%, 12.9%, 9.3%
link
Note - Grand Canyon University became a publicly traded company in 2008.
They are predatory lenders who give out pieces of paper in return for taxpayer dollars.
On, and 87% of their money comes from the Fed.
https://docs.google.com/viewer?a=v&q=cac...AHIEtbQfj2LhiFX9KeS9InJi6EYga4Uv7w&pli=1