Week in Review

Apr/06/2015 - 8:23pm

Career College Central Summary:

If worst comes to worst and you can't pay back your debt, you can always declare bankruptcy. You'll have trouble getting a loan in the future, but you can move on with your life. Unless your debt is a student loan.

Megan McArdle, who once paid for a certificate from a for-profit college …

Apr/06/2015 - 8:00pm

Career College Central Summary:

Getting a college education increases a person's income earning potential. In 2013, Americans whose households made over $108,650 in 2012 were more than eight times more likely to have graduated from a bachelor’s-degree program than Americans whose households made less than $34,160. Go back to 1970, and the higher-income group was five …

Apr/06/2015 - 7:54pm

Career College Central Summary:

Student loan debt, in the United States, has reached troubling heights accounting for the second highest form of consumer debt behind mortgages. With the federal debt at $16.7 trillion, student loan debts represent 6% of the overall national debt. The first victim of this precipitous rise has been for-profit educational institutions. On …

Apr/06/2015 - 7:44pm

Career College Central Summary:

They were searching for a way to help thousands of students nationwide who had been mired in debt by predatory for-profit colleges. And a group of Democratic senators found the solution buried deep in a federal promissory note signed by every student who takes out government loans: the “defense to repayment” provision, …

Apr/05/2015 - 11:09pm

Career College Central Summary:

Officials at the U.S. Department of Education on Friday released the names of 20 colleges whose access to federal funds they have restricted because audits of those institutions uncovered various problems, most of which were “severe.”

The department named the remaining colleges that it had redacted from the list of colleges facing extra …

Apr/05/2015 - 11:03pm

Career College Central Summary:

Last week, critics of for-profit colleges rejoiced at the news that University of Phoenix's enrollment numbers have dropped by nearly 50 percent in the last five years. Revenues are down 14 percent, and last year the institution shut down 115 of its physical locations and laid off 800 employees. The university's owners …

Apr/05/2015 - 10:52pm

Career College Central Summary:

Leading a for-profit school with a student body of more than 1800 students across 10 locations throughout the country may seem exhausting to some. But for president and CEO of InterCoast Colleges, Geeta Brown, it’s energizing.

“This is my passion. It’s my baby,” said Brown. “Nothing makes me more excited than hearing about …

Apr/05/2015 - 10:37pm

Career College Central Summary:

Student dropouts, loans default rates and recruiting tactics have been the cornerstone of many federal and state investigations into for-profit colleges. It appears to be much of the same for four such schools facing probes by the New York City Department of Consumer Affairs.

The New York Times reports that the consumer agency …

Apr/02/2015 - 6:54pm

Four Points in Five Minutes: How to Enlist Your Boss in the Fight Against Default

By Andrés Cordero, Jr., senior writer, TG’s HigherEDGE® Default Management Solutions

So, you’re standing in the elevator next to your school’s president or chief executive. Suddenly, you realize your opportunity. You’ve been wondering just how you could persuade management to pour …

Apr/02/2015 - 6:41pm

Career College Central Summary:

The great under-reported crime against education by corporate America is not the buying and selling of schools by for-profit corporations; that this is a significant threat to education is indubitable and well-documented. But the little-discussed threat to education is the deliberate “hollowing-out” of education from within—i.e. by the philosophy which views education, …

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