Week in Review

May/10/2015 - 11:26am

Career College Central Summary:

This week, the University of Illinois at Urbana-Champaign and Coursera announced their partnership on the iMBA, a $20,000, MOOC-driven graduate degree program that the UIUC College of Business' Raj Echambadi told Education Dive will be truly disruptive because of its format. "If you are going to do the same thing that everybody …

May/10/2015 - 11:22am

Career College Central Summary:

Senator Dick Durbin is calling on Illinois high school administrators to do more to steer their students away from what he called "predatory" for-profit colleges. 

Durbin sent a letter yesterday to teachers, counselors and principals, telling them that such colleges offer "worthless" degrees while leaving their graduates with huge debts.

Click through to read …

May/07/2015 - 4:06pm

Cap-and-gown? Diploma? How about the ideal exit counseling package?

By Rob Davenport, senior writer at TG’s HigherEDGE®

Semester end can turn into gridlock for students, especially graduating and departing ones who have federal student loans to repay. Taking finals, moving, and finding job prospects can overwhelm even the most organized …

May/07/2015 - 3:49pm

Career College Central Summary:

The United States Court of Appeals for the Eighth Circuit overturned a district court’s grant of summary judgment in favor of a for-profit college in United States ex rel. Miller v. Weston Educational, Inc. on April 29. The court revived the case despite the relator’s inability to connect an amount paid by …

May/07/2015 - 3:44pm

Career College Central Summary:

All students who are unable to complete their education due to a college closure should qualify for federal loan forgiveness. Without a diploma or degree, most students do not benefit from their incomplete education. They cannot transfer credits and must start over to earn a credential.

In the case of Corinthian, 16,000 students …

May/07/2015 - 3:38pm

Career College Central Summary:

In a report released last year, the New York Federal Reserve estimated that student loan debt had climbed to $966 billion in 2012, with more than two-thirds of that debt owed by borrowers younger than 40 years old. The report estimated that 6.7 million borrowers, or 17%, are at least 90 days …

May/06/2015 - 7:48pm

Career College Central Summary:

The Education Management Corporation, a for-profit higher-education company beset by layoffs and debt, will shut down 15 of its Art Institute campuses, the company disclosed on Wednesday.

The closures are the latest in a long line of indicators of EDMC’s precarious financial position. As of last summer, the company’s debt payments were outpacing …

May/06/2015 - 7:46pm

Career College Central Summary:

For-profit universities have gotten a bad rap in light of the recent bankruptcy of Corinthian Colleges, a large for-profit institution that had over 100 campuses throughout North America. Yet, for-profit universities offer students some interesting options for both undergraduate and graduate degrees.For-profit universities have gotten a bad rap in light of the …

May/06/2015 - 7:43pm

Career College Central Summary:

Corinthian Colleges, the for-profit education company familiar to corporate law professors for its appearance in textbooks about securities regulation, now has a chance to appear in bankruptcy and restructuring texts as well.

Corinthian filed for Chapter 11 bankruptcy protection in Delaware on Monday, along with two dozen affiliates. Its petition lists more than …

May/06/2015 - 7:38pm

Career College Central Summary:

Last week Corinthian College, the controversial for-profit giant, shut its doors . The closure of this major player in the for-profit higher education industry comes after years of intense scrutiny from policymakers, practitioners and researchers on the industry's ability to support long-term student success. Although a major step forward, this move creates …

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