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Infographic on the difference between non-profit and for-profit colleges
<p>The difference between Non-profit and For-profit colleges</p> <p>Nonprofit colleges</p> <p>Educate students, who graduate with a degree. The goal is to graduate.</p> <p>Does not aim to generate profits, but to cover costs of operation. If revenue exceeds costs, excess revenue is invested into the college itself. Excess revenue goes towards improving the student experience, learning spaces, support services, financial aid, research, extra-curricular programs, classrooms and residence halls.</p> <p>For profit colleges</p> <p>Operate with owners and shareholders.</p> <p>Offer classes as a service that generate money.</p> <p>Left over money from fundraising can be used as salary for top-level management.</p> <p>Research shows Non-profits spend an average of 5,887 dollars per student on research and 15,321 dollars per student on instructional costs.</p> <p>Research shows for-profits reinvest an average of 8 dollars per student on items such as curriculum enhancements and faculty research and 3,017 dollars per student on instructional costs.</p> <p>Cost comparisons</p> <p>Non-profit college</p> <p>Tuition costs are competitive and usually more affordable than for-profit colleges.</p> <p>For-profit college</p> <p>Tuition costs are usually higher at a for-profit college compared to a non-profit.</p> <p>Despite lower tuition costs, non-profit schools pay faculty more than their for-profit counterparts, according to the State of Higher Education Research. </p> <p>90 percent of for-profit students, borrowed an average of 40,000 dollars and are 3 to 4 times more likely to default on a loan that non-profit students.</p> <p>Leadership</p> <p>Board of trustees</p> <p>The governance structure of a non-profit college is generally shared between the faculty and administration. The college or university is overseen by a board of trustees, who receive no compensation for their role. Non-profit colleges generally offer a host of resources and programs that are not available at for profit colleges.</p> <p>Shareholders</p> <p>For-profit schools operate with owners and shareholders. </p>Shareholders can live and work all over the world. Shareholders are often a tight-knit group that prefers to work internally to provide directions for the college.</p> <p>Graduation and beyond.</p> <p>Non-profit</p> <p>66 percent graduate in six years.</p> <p>65 percent graduate with a 4 year degree.</p> <p>Accreditation allows non-profit students to easily transfer credits other schools whereas for-profits tend to lack accreditation.</p> <p>For-profit </p> <p>31 percent graduate in six years</p> <p>28 percent graduate with a 4 year degree.</p> <p>Research shows for-profit students with a business degree were 22 percent less likely to hear back from potential employers.</p> <p>Widener University</p>