Thread regarding Education Management Corporation layoffs

Take charge of your student debt before it ruins your life

Seems like there are several students making comments on this site who are riddled with debt and angry that they feel cheated by an EDMC school. I would suggest to any students thinking about attending school to do their homework and pay attention to a few simple suggestions before signing up for student loans. Regardless of the school you attend you will probably have to borrow money to complete your education. So . . .

  1. Skip private loans. Student loans are available through both the federal government and private lenders. If at all possible, skip the private loans. Federal loans may not give you as much money, but the interest rate is often lower and, more importantly, fixed. Plus, if you run into trouble making payments, the feds let you ask for a deferment or forbearance, something typically not offered by private lenders. In fact, private student loans aren’t much better than using credit cards.

  2. Work and study at the same time. Working full time and going to school part time might not sound like a lot of fun, but it can be a smart way to get a degree debt-free. And you might not have to work so much either to pay off the debt after graduation.

  3. Choose your degree wisely. Not all degrees are created equal. Pick a field with good income potential and plenty of job opportunities to ensure that you are able to easily afford your student loan payments. There are many articles released each year on the top college majors with the best starting salaries. Another option would be to pursue a career that doesn’t require a four-year degree. If you think the arts is a career path to wealth then you probably haven't done your homework and are being guided more by your heart then your head..

Going to college is a major decision in your life and you shouldn't make that decision lightly. Do your research and hopefully you will come away with a good education, a solid career path and debt that won't strangle you for decades. It really is up to you. Good luck!

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Post ID: @OP+IXtJJXj

7 replies (most recent on top)

It's hard to judge individual AI schools because they are governed by a single business model. Corporate business and Higher Ed don't mix. I agree that local control and inspired leadership can save a school but that doesn't seem to mean much to Pittsburg. We saw evidence of that during the last round of layoffs.

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Post ID: @3lrv+IXtJJXj

I think it is easy to blame for-profits..they definitely have failed on several fronts. I would judge each school by its reputation and grads then by a total blanket statement. The entire model is under such a microscope now it may be impossible to rebound. But trends change, it will be interesting to see what EDMC does with the AI brand. With something like 80K enrolled students whatever happens will impact lots of people. The need to have a degree anymore is without a doubt a must. I would definitely choose someone with a degree over one without. It represents an accomplishment and dedication that you could never get by watching youtube videos and learning at home. It is just a tool for employers, not necessarily the only way to judge a new hire. Where the degree comes from is not as important, it is what the student got out of it that matters. Their portfolio and attitude. College gives you that time to mature and build your confidence. But doesn't have to come with a $80K price tag. It is a major purchase, students and their families should be smart about the choice. I would definitely not encourage a new student to take on so much debt especially in the artistic fields. The pay is slow at first and you have to build clients and a reputation. Well, the Art Institute of Fort Lauderdale is 50 years old, it has had a good rep...not sure EDMC has done it any good the past few years.

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Post ID: @3iwj+IXtJJXj

What's more, I was making the case not to attend any of the For profit schools and was referring to The Art Institute as one of the those For Profits to avoid.

By the way, thanks for responding. This forum has gone really cold.

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Post ID: @3ama+IXtJJXj

The entry you quoted wasn't referring to the Art Institute. It was referring to another For Profit school altogether. The Art Institute in our city did however tell all its first quarter instructors not to flunk their entry level students. Yes, they made their demand solely to preserve the money stream.

I am referring only to the For Profit schools in our city but have heard similar stories from around the country.

I may not have made all that as clear as I could have in my first post.

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Post ID: @3dci+IXtJJXj

"I flunked a student because the student failed to turn in several assignments. A few days after the class term was over, I was told to change the grade because that student was graduating. "

I taught at the Art Institute of Fort Lauderdale for many years as a part timer and was never asked to change a single grade. A student earned the grade they got. The only ability we had as instructors to change a final grade was to do a grade change if the student had an excused absence for illness, family death or emergency and those reasons where very limited and had to be approved by the department chair. Then the student had to make up any missing assignments. And to be able to change a grade all this had to be documented ahead of time...It was called "A Contract to Complete Work" and I only used it a couple times. At AIFL, students were held accountable for their absences and ability to do the work. Standards seemed important because the college had a good reputation in the local area in several fields. I assume that policy has not changed but I am no longer with the company. I went back to my business full time but I still hire AIFL grads and hope the college keeps it together.

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Post ID: @3ogy+IXtJJXj

Regardless of whatever debt you choose to take on, go to a state run college. They're more accountable, more heavily regulated and not as subject to the whims of the market place.

Don't go to a For Profit school.

Case in point; our AI school recently told all its first quarter instructors not to flunk any of their entry level students and to dumb down the classes accordingly. The school needed to preserve the money stream. At another For Profit school, I flunked a student because the student failed to turn in several assignments. A few days after the class term was over, I was told to change the grade because that student was graduating. They badgered me for days. I refused and never went back.

These things don't happen at state run colleges. I know because I work at a couple of them.

I'm sure the EDMC flacks will disagree but pay them no mind. They're paid to be disagreeable.

The long and the short of it is this: For Profit schools once filled a need in our education system. That time passed a long time ago. They've lost all their academic rigor and their degrees are worthless.

They're still in the game solely for the cash and it breaks my heart.

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Post ID: @1yga+IXtJJXj

This is great advice but a little late coming for angry former students on this site many of whom weren't ready for college to begin with but were aggressively recruited nonetheless.

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Post ID: @1uaw+IXtJJXj

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