Week in Review

Jun/01/2015 - 8:44pm

Career College Central Summary:

The U.S. Department of Education increased its monitoring of ITT Educational Services last month after the Securities and Exchange Commission filed civil fraud charges against the for-profit college giant and two executives, the company disclosed Friday.

Education Department officials have required ITT to provide cash flow projections every two weeks, along with other …

Jun/01/2015 - 8:39pm

Career College Central Summary:

Educational debt has become a ticking time bomb. With over $1 trillion in outstanding loan balances, the student loan industry has a lot in common with the sub-prime mortgage industry, which went into a devastating crisis in 2007-8. Both rely on a financial innovation called “asset-backed securitization” (see below) to raise capital …

Jun/01/2015 - 8:32pm

Career College Central Summary:

Congressman Mark Takano, D-Riverside, made it clear Saturday, May 30, that he has little love for for-profit colleges.

“We need to get Wall Street out of education,” Takano said referring to the large companies behind many for-profit colleges. “These institutions are just trying to better themselves. They spend more money on marketing than …

May/31/2015 - 8:44pm

Career College Central Summary:

For-profit colleges that aren't quite making the grade will no longer have access to federal financial aid.

According to the United States Department of Education, many for-profit schools aren't holding up their end of the bargain and are taking in student loan money, pumping out graduates, and leaving many in massive debt with …

May/31/2015 - 8:39pm

Career College Central Summary:

ITT Educational Services, Inc. (NYSE:ESI), an operator of technology-focused for-profit colleges, released its audited annual report for fiscal 2014 on Friday, and Wall Street couldn’t have been happier.

ESI stock went absolutely bonkers after the results, and at one point shares were up as much as 90% in intraday trading. While the company …

May/31/2015 - 8:34pm

Career College Central Summary:

A federal judge in New York decided against a group of for-profit colleges arguing the Obama administration’s proposed rule about gainful employment was unconstitutional and arbitrary.

Inside Higher Ed reports the colleges argued their due process rights would be trampled if the administration could cut off student loan funding based on the new …

May/31/2015 - 8:31pm

Career College Central Summary:

For-profit colleges have been targeted by government officials, including President Obama and California Attorney General Kamala Harris HRS -0.04%, who claim these schools take advantage of low-income students, burdening them with student debt and limited job prospects upon graduation (if they graduate at all). Yet, these same officials are unfairly aiming their …

May/28/2015 - 9:02pm

Ryan Busch, publisher of Career College Central Magazine will be on-site at the 2015 APSCU Conference in Denver, Colorado next week.

Please contact us if you are interested in doing a video interview on Wednesday, June 3, 2015.

We are interested in learning more about your campus, business, and ideas about The Classroom of …

May/28/2015 - 8:44pm

Career College Central Summary:

U.S. Senator Dick Durbin (D-IL) today called out the for-profit college chain ITT Technical Institute for complaining that its “day in court [is] long overdue” while in its enrollment documents, the company prohibits students from filing suit in a court of law against the company either as an individual or as part …

May/28/2015 - 8:39pm

Career College Central Summary:

American colleges and universities, long thought to be the glory of the nation, are in more than a little trouble. I’ve written before of their shameful practices — the racial quotas and preferences at selective schools (Harvard is being sued by Asian-American organizations), the kangaroo courts that try students accused of rape …

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