universities

What’s the Difference Between For-Profit and Non-Profit Colleges?

When I hear the phrase ‘non-profit organization,’ I immediately think of those ASPCA commercials that play Sarah McLachlan’s “Angel” while displaying pictures of neglected puppies and kittens. 

Disclaimer: If you’ve never seen the commercial I’m talking about, don’t look it up. It’ll wreck your day. 

The ASPCA is one of many non-profit organizations in the United States. In the smallest of nutshells, a non-profit is an organization that puts back any surplus income into its mission. There are no shareholders to please or pay off. As a result, non-profits do not pay taxes on the money they take in. That way, people who give to the ASPCA know that 100% of their donation is going to the organization’s mission. 

Everything else is a for-profit enterprise. When you buy the latest iPhone, a little bit of that money goes to people who own Apple’s stock and the board of directors. Another way to put it is that a for-profit organization’s mission is to make lots (and lots) of money. Unlike non-profits, these organizations pay taxes on the money they bring in.              

Now that we’ve learned a bit about the difference between for- and non-profit organizations, let’s see how this distinction applies to the college you attend. What’s the difference in the educational experience and academic rigor? We’ll explore answers to this question and much more. 

Public colleges are always non-profit schools…

Public colleges and universities are as much a part of their states’ educational systems as public elementary, middle, and high schools. They receive funding from the state and put students’ tuition dollars back into their programs. Also, as institutions designed to benefit in-state residents, they often charge higher tuition to out-of-state students and set quotas on how many out-of-state students they accept each year. That’s why, for example, a student from New York who attends the University of California – Berkeley pays more than double the in-state tuition rate.

…but private colleges aren’t always for-profit schools.

When I went to Vanderbilt University, I could almost see the money bleeding from the walls. In my junior and senior years, the university was spending truckloads of cash constructing new dorms and science centers. You would imagine that just by looking around, Vanderbilt was a for-profit institution. But that’s not the case.

Vanderbilt, along with many other private colleges and universities, is a non-profit school, as well. They invest their tuition dollars into endowments, research, and new construction. In other words, the amount of money a school has doesn’t make the difference between for-profit and non-profit.

So what does?

There’s a lot of tax law and legalities involved, but like the example at the beginning of the article, a for-profit school is managed by a corporation. Here’s an easy-to-remember scenario that explains the difference between the two.

Non-profit college: “We need to provide a broad range of majors and minors to our students. We do not consider how profitable a major is when making funding decisions.”

For-profit college: “Enrollment in East Asian studies major dropped 20% since last year. We’re eliminating it.”

At for-profit colleges, majors and academic departments are like products. If one’s not selling well enough, they cut it to save money. 

Now that we know a little bit about how for-profit and non-profit schools operate, let’s examine the question you really came here to answer.

What’s the Difference for Students?

In terms of the student experience, the most significant difference concerns each type of school’s academic offerings. Like in the example in the previous section, for-profit schools tend to offer a more limited selection of majors, those that are in line with what the economy needs. At for-profit colleges, you’re likely to find more STEM majors and fewer humanities majors.

Another thing you may have heard concerns for-profit schools and scandals. Yes, for-profit colleges have gotten in hot water in recent years for breaking the law and other dubious practices. Thankfully, many of these schools have gone out of business, and remaining for-profit schools are under the microscope. What this means is that if you’re considering for-profit colleges, you need to do your due diligence. When researching a for-profit college, ask yourself the following questions:

  • Does this school possess regional accreditation?
    • If the answer is ‘no,’ move on.
  • Does the program I’m interested in possess national or subject-specific accreditation?
    • If the answer is ‘no,’ it’s not a deal breaker, but keep looking just in case.
  • Are there any news reports that portray this school in a negative light?
    • If the answer is ‘yes,’ move on.
  • What are alumni saying about their educational experience? 
    • Like restaurant reviews, people with negative experiences are more likely to share their stories online than people who had a good or neutral experience. Even so, take all claims seriously and continue researching.

In fact, it’s a good idea to ask yourself these same questions about non-profit colleges, too. 

Final Thoughts

Non-profit and for-profit colleges have the same basic mission: educate students. And as many for-profit schools have cleaned up their acts in recent years, you can feel safer about them as an option for your college degree. However, no matter what kind of college you want to attend, pick a reputable school that aligns with your interests and goals.

So, set aside time to research schools, call admissions offices, and ask yourself – sometimes difficult – questions about what you really want out of your education. This way, you can pick the best school for you.

Good luck. ☺️

Top 50 Best Colleges in the United States: myKlovr 2018 Rankings

Your virtual college counselor has arranged a list of 2018’s 50 best colleges and universities in the U.S. MyKlovr arranged a ranking-scale by combining the average ranking and data of some of the most reliable college rankings, including sources such as the Wall Street Journal, Forbes, Niche, and more.

 

1) Harvard University

  • Location: Cambridge, MA
  • Student Enrollment: 29,652
  • College Type: Private

The oldest institute of higher learning in the country, Harvard is well known for its political science, social science, and law programs. With a beautiful campus and an 87% graduation rate in the standard four years, Harvard is the most prestigious and sought after university in the country.

 

2) Stanford

  • Location: Stanford, CA
  • Student Enrollment: 16,980
  • College Type: Private

Known for their Computer Science program, Stanford enrolls nearly 17,000 students with average ACT scores hovering between 31 – 36 points. Stanford’s location, close in proximity to Silicon Valley is a great incentive for living arrangements for many applicants.

 

3) Yale University

  • Location: New Haven, CT
  • Student Enrollment: 12,385
  • College Type: Private

Yale University is arguably the most selective Ivy League school with a rich history, tight community, and impressive alumni organization. Yale is also the alma mater of 5 U.S. presidents and 20 living billionaires.

 

4) Massachusetts Institute of Technology

  • Location: Cambridge, MA
  • Student Enrollment: 11,311
  • College Type: Private

Opened up to students in 1865 after the Civil War, MIT, is worldwide leader in physical sciences, engineering, economics, and biology.

 

5) California Institute of Technology

  • Location: Pasadena, California
  • Student Enrollment: 2,255
  • College Type: Private

CalTech is best known for their prestigious engineering program, social life, sports teams, and famous beaver mascot. The extremely small student body can be extremely appealing or problematic to potential applicants depending upon their individual interests.

 

6) University of Pennsylvania

  • Location: Philadelphia, PA
  • Student Enrollment: 24,876
  • College Type: Private

Upenn’s motto is “Leges sine moribus vanae,” meaning “Laws without morals are useless.” The competitive, yet respected reputation, as well as the city-feel location of this Ivy-League school is a huge reason why Upenn receives well over 37,000 applications each year.

 

7) Princeton University

  • Location: Princeton, NJ
  • Student Enrollment: 8,143
  • College Type: Private

Formerly known as the college of New Jersey in the 1800’s, Princeton is well known for their Econ concentration. It is no surprise that they also have a phenomenal financial aid program, graduating 83% of their students without student debt.

 

8) Duke University

  • Location: Durham, NC
  • Student Enrollment: 15,984
  • College Type: Private

With a shockingly small faculty to student ratio of 7:1, The majority of Duke’s students are enrolled in the graduate school. With a wide variety of majors to choose from, Duke is known for their top-tier athletic teams and facilities, including their lacrosse team who has won 3 national championships.

 

9) University of Chicago

  • Location: Chicago, IL
  • Student Enrollment: 15,391
  • College Type: Private

The university is composed of the College, various graduate programs and committees organized into five academic research divisions and seven professional schools. The University of Chicago scholars have played a major role in the development of many academic disciplines, including sociology, literary criticism, religion, and more.

 

10) Dartmouth College

  • Location: Hanover, NH
  • Student Enrollment: 6,350
  • College Type: Private

Dartmouth provides 57 majors for their students throughout their quarter plan. The most popular of these majors are Economics and Political Science. Dartmouth also has a unique Center for Professional Development, in which faculty members work with students and employers to achieve post-graduate success.

 

11) Rice University

  • Location: Houston, TX
  • Student Enrollment: 6,719
  • College Type: Private

With a competitive acceptance rate and 6:1 faculty to student ratio, Rice places great emphasis and support on academic achievement, as well as their sports teams, including their 14 Division one programs and wide variety of intramural sports.

 

12) Brown University

  • Location: Providence, RI
  • Student Enrollment: 9,458
  • College Type: Private

With an incredibly long history, Brown was the first school in the Ivy League, 7th oldest college in the country, and the first to admit students regardless of their religious affiliation. The unique city of Providence is also another reason many students chose to apply here.

 

13) University of Notre Dame

  • Location: Notre Dame, IN
  • Student Enrollment: 12,292
  • College Type: Private

Most Notre Dame students live on campus, hovering around 80% of the student-body. This is huge factor in the incredible turn-outs of their sporting events at Notre Dame Stadium, specifically football games, seating over 80,000 fans. Popular majors include finance, marketing, and accounting.

 

14) Vanderbilt

  • Location: Nashville, TN
  • Student Enrollment: 12,567
  • College Type: Private

Located in the middle of Nashville, Vanderbilt is known for their strong curriculum and upstanding reputation. Vanderbilt accepts students with average SAT scores between 1,430-1,580 and ACT scores between 32-36.

 

15) Washington University in St. Louis

  • Location: Lexington, VA
  • Student Enrollment: 2,172
  • College Type: Private

Named after George Washington and Robert E. Lee, W&L offers a wide variety of majors and minors. Their school motto is Non Incautus Futuri, meaning not unmindful of the future.

 

16) Amherst College

  • Location: Amherst, MA
  • Student Enrollment: 1,849
  • College Type: Private

Amherst is often referred to as the best liberal arts college in the country. Their academic reputation, political engagement, and scenic campus is a large factor in why students choose this school over many Ivy-League schools.

 

17) Georgetown University

  • Location: Washington, DC
  • Student Enrollment: 18,459
  • College Type: Private

Offering around 50 majors, Georgetown is made up of 9 grad and under-grad schools. They are best known for their Economics, Political Science, and Finance programs. They are also regarded as having a very active student body, especially when it comes to their sports teams.

 

18) Harvey Mudd College

  • Location: Claremont, CA
  • Student Enrollment: 800
  • College Type: Private

With an extremely small student body, Harvey Mudd’s mission is fairly simple and straight forward. As a liberal arts college, they aim to educate future mathematicians, engineers, and scientists. In fact, they have one of the best engineering programs in the nation.

 

19) University of California – Berkley

  • Location: Berkley, California
  • Student Enrollment: 40,154
  • College Type: Public

Often considered as the best public school in the country, UC Berkley specializes in Social Sciences, Engineering, Biological and Biomedical Sciences, Multi/Interdisciplinary Studies, and Mathematics and Statistics. Although the school has a massive student body, 52.3 percent of its classes have fewer than 20 students. It is also interesting to note that the average freshman retention rate, an indicator of student satisfaction, is 97 percent.

 

20) Swarthmore College

  • Location: Swarthmore, PA
  • Student Enrollment: 1,581
  • College Type: Private

Founded by Quakers in 1864, Swarthmore was one of the first coeducational schools in the U.S. It has an 89% four-year graduation rate. They also have a very small student-to-faculty ratio of roughly 8:1, giving students plenty of face to face exposure with their professors.

 

21) Williams College

  • Location: Williamstown, MA
  • Student Enrollment: 2,171
  • College Type: Private

Known as being one of the oldest and most prestigious colleges in the U.S., Williams was founded in 1793. They are also known for meeting 100% of admitted students’ financial needs.

 

22) University of Michigan – Ann Arbor

  • Location: Ann Arbor, MI
  • Student Enrollment: 43,651
  • College Type: Public

Michigan has an extremely unique curriculum when it comes to choosing fields of interests. Their most popular majors include more general studies such as Business, Economics, Psychology, and Computer Sciences. They also have a flourishing social scene that revolves around their top-notch sports programs including football, hockey, and basketball.

 

23) Johns Hopkins University

  • Location: Baltimore, MD
  • Student Enrollment: 22,686
  • College Type: Private

Founded in 1876, Johns Hopkins is known for their incredible medical school. It is no wonder that their most popular undergraduate majors are Nursing, Public Health, and Biomedical Engineering. Many students here have a lot of pride in their school and sports teams, specifically the lacrosse team.

 

24) Carnegie Mellon University

  • Location: Pittsburg, Pennsylvania
  • Student Enrollment: 13,503
  • College Type: Private

Carnegie Mellon is known for its programs in science and technology, but its seven schools and colleges include the College of Fine Arts and the Dietrich College of Humanities and Social Sciences. They are also known for their acclaimed grad-programs.

 

25) Tufts University

  • Location: Medford, MA
  • Student Enrollment: 11,137
  • College Type: Private

Tufts has a slim 16.1% acceptance rate. There is also a 9:1 student to faculty ratio at this university, creating a small, yet close culture. Their mascot, Jumbo the Elephant is very popular among their student-body and athletic programs.

 

26) Pomona College

  • Location: Claremont, CA
  • Student Enrollment: 1,663
  • College Type: Private

The top 4 most popular majors at Pomona are Economics, Mathematics, Biology, and Neuroscience. As you would guess, the student to faculty ratio and the class sizes are extremely small. It is also interesting to note that the average SAT and ACT scores for admitted students fall around the 95th percentile.

 

27) Claremont Mckenna College

  • Location: Claremont, CA
  • Student Enrollment: 1,349
  • College Type: Private

With a huge emphasis on academic achievement and athletic support, Claremont McKenna College was originally an all-boys college, but opened their doors to women in in the 70’s. For whatever reason, their men’s sports teams play as the Stags, while the women play as the Athenas.

 

28) University of California – Los Angeles

  • Location: Los Angeles, CA
  • Student Enrollment: 41,908
  • College Type: Public

At UCLA, the two most popular majors are Political Science and Psychology. They also have a phenomenal Economics program which is very popular among under-grads. The LA location is also a large factor in why students chose this University.

 

29) United States Military Academy

  • Location: West Point, VA
  • Student Enrollment: 4,348
  • College Type: Public

Students come to Army from all over the country to follow their code “a cadet will not lie, cheat, steal, or tolerate those who do.” interestingly, the Cadets have a 93% first-year retention rate and an extremely small faculty to student ration, allowing for plenty of hands-on learning and engagement with USMA educators.

 

30) Carleton College

  • Location: Northfield, Minnesota
  • Student Enrollment: 2,105
  • College Type: Private

Carleton has a rural setting with a campus size of 955 acres. It utilizes a trimester-based academic calendar and ranks as the 8th best Liberal Arts College in the 2018 edition of Best Colleges. Tuition and fees hover around $52,782 a year.

 

31) United States Naval Academy

  • Location: Annapolis, MD
  • Student Enrollment: 4,525
  • College Type: Public

Located a little over 30 miles away from Washington D.C., Navy has an incredible 98% first-year retention rate and an 8:1 student-to-faculty ratio. Students love to support the blue and gold at their division one sporting events, including football and basketball.

 

32) University of Virginia

  • Location: Charlottesville, VA
  • Student Enrollment: 23,883
  • College Type: Public

UVA specializes in liberal arts studies and business as their students’ most preferred majors. They also have an amazing alumni association. Olympians, astronauts, and U.S. political leaders have all graduated from the University of Virginia.

 

33) Haverford College

  • Location: Haverford, PA
  • Student Enrollment: 1,233
  • College Type: Private

Haverford offers a wide variety of majors. The most popular include Psychology, Biology, Economics, and English. The average SAT scores range between 1,350-1,530.

 

34) Emory University

  • Location: Atlanta, GA
  • Student Enrollment: 13,788
  • College Type: Private
  • year or above

Heavily affiliated with the United Methodist Church, Emory is one of the oldest private Universities in the country. Emory specializes in Business Administration and Management.

 

35) Middlebury College

  • Location: Middlebury, VT
  • Student Enrollment: 2,558
  • College Type: Private

This liberal arts school has a competitive 17.4% acceptance rate and has an 8:1 student to faculty ratio. With a beautiful north eastern campus and close-knit community, Middlebury has a 97% first year retention rate, a great indicator of freshmen satisfaction.

 

36) United States Air Force Academy

  • Location: USAFA, CO
  • Student Enrollment: 4,111
  • College Type: Public

All cadets at Air Force participate in intercollegiate or intramural athletics, a specialized leadership curriculum, and an intense training program. The Academy’s mission is “to educate, train, and inspire men and women to become leaders of character, motivated to lead the United States Air Force in service to our nation.”

 

37) University of North Carolina – Chapel Hill

  • Location: Chapel Hill, NC
  • Student Enrollment: 29,084
  • College Type: Public

UNC is tied with two other colleges as the oldest public university in the United States, dating back to 1795. Students can participate in over 550 officially recognized student organizations and are known for their talented sports teams, beautiful facilities, and strong social scenes and events.

 

38) Wellesley College

  • Location: Wellesley, MA
  • Student Enrollment: 2,510
  • College Type: Private

One of the original Seven Sisters Colleges, Wellesley is arguably one of the most famous women’s colleges in the world. Notable alumni include Katharine Lee Bates, Diane Sawyer, and Hillary Clinton. Their most preferred major is Economics.

 

39) New York University

  • Location: New York, NY
  • Student Enrollment: 50,027
  • College Type: Private

NYU is an extremely culturally diverse and international university that offers a wide variety of majors. They have campuses in Abu Dhabi, Shanghai, Accra, Berlin, Buenos Aires, Florence, London, Madrid, Paris, Prague, New York City, Sydney, and Washington D.C. NYU also has an impressive list of notable alumni, including CEOs of Fortune 500 companies, Olympians, heads of state, astronauts, and more.

 

40) Davidson College

  • Location: Davidson, NC
  • Student Enrollment: 1,784
  • College Type: Private

Known as the Wildcats, Davidson students have an average SAT score of 1,280–1,430. Their motto is “Let learning be cherished where liberty has arisen,” which is instilled among their high-achieving students and strong reputation.

 

41) Wake Forest University

  • Location: Winston-Salem, NC
  • Student Enrollment: 7,591
  • College Type: Private

Located just a few hours from the Blue Ridge Mountains and beaches of South Carolina, Wake Forest has a beautiful campus that offers intramural sports and plenty of outdoor trips.  Of the 6 schools that make up Wake Forest, the School of Law, School of Business, and School of Medicine are extremely competitive. Undergraduates are enrolled in either Wake Forest College or the business school.

 

42) College of William and Mary

  • Location: Williamsburg, VA
  • Student Enrollment: 8,484
  • College Type: Public

William and Mary has more than 30 undergraduate programs and more than 10 graduate and professional degree programs. Of their highly ranked grad schools, the first law school in the U.S. is one of them. William and Mary is also responsible for the nation’s first academic Greek society, Phi Betta Kappa.

 

43) Colgate University

  • Location: Hamilton, NY
  • Student Enrollment: 2,882
  • College Type: Private

Colgate’s academic departments and majors fall into one of four general divisions: humanities, natural sciences and mathematics, social sciences and university studies. Greek life plays a significant role in student life, representing nearly half of sophomores, juniors and seniors.

 

44) Boston College

  • Location: Chestnut Hill, MA
  • Student Enrollment: 14,354
  • College Type: Private

Boston College, founded in 1863 by the Society of Jesus is a Jesuit Catholic school that has been classified by the Carnegie Foundation for the Advancement of Teaching as a university with high research activity. BC is made up of nine schools, including grad-programs, and competes in nearly 30 NCAA Division I varsity sports.

 

45) Lehigh University

  • Location: Bethlehem, PA
  • Student Enrollment: 7,119
  • College Type: Private

Lehigh is considered one of the twenty-four Hidden Ivies in the Northeastern U.S. They have four colleges: the P.C. Rossin College of Engineering and Applied Science, the College of Arts and Sciences, the College of Business and Economics, and the College of Education. The College of Arts and Sciences is the largest, which roughly consists of 40% of their students.

 

46) Santa Clara University

  • Location: Santa Clara, CA
  • Student Enrollment: 8,680
  • College Type: Private

Santa Clara is the oldest currently operating institution of higher education in California and offers a wide variety of majors, as well as 17 varsity athletic programs competing at the division one program. Students at this highly selective school tend to have ACT scores between 27–32 and SAT scores between 1,220–1,410.

 

47) Vassar College

  • Location: Poughkeepsie, NY
  • Student Enrollment: 2,436
  • College Type: Private

Vassar college is a top-tier liberal arts college that offers over 100 clubs and organizations for students to get involved with. Almost all students live on campus in 1 of 12 resident halls. Vassar has a solid 90% four-year graduation rate, and a 94% first year retention rate.

 

48) Barnard College

  • Location: New York, NY
  • Student Enrollment: 2,573
  • College Type: Private

Barnard College is comprised of two schools, offering a small, yet strong liberal arts school and a large, coeducational Ivy League institution, both in NYC. Barnard is an all-female college in Manhattan with a co-ed partnership with Columbia University, across the street.

 

49) Bucknell University

  • Location: Lewisburg, PA
  • Student Enrollment: 3,625
  • College Type: Private

Bucknell, being a very diverse institution offers nearly 50 majors and over 60 minors. Bucknell’s most popular are Economics, Political Science, Accounting, Finance, and Biology. They have an impressive first year retention rate of 93%.

 

50) Colby College

  • Location: Waterville, ME
  • Student Enrollment: 1815
  • College Type: Private

Colby’s campus encompasses a wildlife refuge and is close in proximity to a preserved lakefront property for environmental studies. There are approximately 100 student-run clubs and organizations on campus, ranging from the Colby Ballroom Dance Club to the Society Organized Against Racism. More than one-third of students are members of Colby’s intercollegiate varsity sports teams, the Mules.

 

So there you have it, top 50 colleges and universities in the U.S. ranked by myKlovr. If you are still not sure what schools to apply to, check out our college finder to find your perfect match today!

 

Sources:

 

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