Bad Morals: For Profit Schools That Just Won’t Say No!

You would think that, with all the negative attention focused on for-profit schools these days, they would be rushing – or at least trying – to clean up their acts.  But these tigers just can’t change their stripes.  Their desire to enroll more and more students – and then keep them in school paying tuition. . .
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How to Reduce the Risk of Lawsuits Against For-Profit Schools

     It has been an eventful week in the for-profit education industry.  First, Career Education Corporation’s CEO resigned after acknowledging that Career Ed had falsely reported job-placement rates.  Career Ed owns a variety of for-profit schools ranging from Le Cordon Bleu cooking schools to Sanford Brown and Brooks colleges.  Career Ed lost almost half. . .
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Armed Service Members – Don’t They Take Enough Risk Already??

 GI’s take enough risk in their lives, what with IEDs, suicide bombers and the like.  The news today was that for-profit schools are targeting them as well. The Department of Veterans Affairs reported disbursing $4.4 billion in academic benefits for GIs in the 2010-2011 academic year.  Of that amount, more than $1 billion went to. . .
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Ask about a school’s default rate before you enroll.

  Schools with high default rates usually blame them on:  1) the economy; 2) the type of students they enroll; or 3) both.  If the economy isn’t producing jobs, then graduates won’t get jobs, and in turn, they won’t be able them to repay their student loans.  This is particularly true for students from low-income. . .
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How To Uncover False Placement Rates

There is growing evidence that for-profit schools are using similar tricks to manipulate their placement rates (my thanks to Stephen Burd, and his post on the subject here).  I have seen these tricks myself in trade school fraud cases, and it good to see them getting some public attention.  If you think your school’s placement. . .
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For-Profit CEO Pay Is 26 Times Public University Presidents??

Yup.  That’s what the Department of Education reported in February 2011.  Where do you think that money is coming from? It comes from students and stock market investors, that’s where.  Students invest in tuition in hopes of getting a degree that will help them get a job.  It doesn’t matter if the student invests this. . .
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Who Bears The Risks Associated With For-Profit School Tuition?

You do.  I do.  All taxpayers do.  And who gets the rewards?  The for-profit schools, and sometimes their students. For-profit schools have been criticized for “privatizing profit and socializing risk.”  This means that once the school gets the student’s tuition, the money is its to keep.  Tuition refund schedules are often front-loaded, so that by. . .
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Can You Get Your Student Loan Discharged?

Obviously, the best relief you can hope for is to get your student loan discharged.  A loan that is discharged is effectively forgiven, and you get a new start – you can even apply for another student loan, if you are so inclined. There are five major ways a student loan can be discharged.  You. . .
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What If Your Student Loan Payment Is Just Too Big?

Almost everyone starts off wanting to repay their student loans.  Not everyone gets there, though.  Some people succeed in getting a job, but just don’t make enough money to cover their entire monthly loan payment.  Some people get jobs that don’t pay much, but believe that if they pay their dues in a low level. . .
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Do You Have A Student Loan You Can’t Repay?

  If you ever went to college or a trade school, you probably had to take out a student loan.  You probably didn’t know much, if anything, about student loans when you signed on the dotted line.  You probably assumed that the school was arranging the best loan for you that it could.  Finally, you. . .
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