The 90/10 ratio rule will drive this. Plus the individual college programs that are not up to task with the gainful employment law with be getting the hook.Is there a hit list being made? Under the 90/10 a college must get 10% of the students to pay cash in order for the 90% of federal aid to be paid for each college location. If they fail to get at least 10% in cash than that location will be on the hook. So for every 100 students at a school, 10 must walk in the door and stroke a check for the tuition.
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Its truly terrible to see another "bubble" about to burst. Many people were burned by the housing crash, but this one will be worse. I feel bad for anyone at EDMC that has been laid off (yesterday there were 200). However, $90k for a bachelor's degree is a crime when you graduate and make $10 an hour. Unfortunately $10/hourly is the rule not the exception. Individuals are much better off attending a trade school or community college than attending Ai or any other EDMC school. The stock is trading at less than $2 a share and approximately 10 Ai locations are closing soon. If you are a new student at ANY Ai location please consider another alternative. You have the next 25 years of student loan payments on the line.
Anonymous 15825, why on God's green earth don't you quit? Mow lawns for heaven's sake! There is something out there. If the community colleges would be funded properly these businesses simply wouldn't exist. But no we prefer to overpay some english prof (or worse an administrator) at a research I to conduct research on shakespeare instead of teaching. Shakespeare has value but we need to educate our populace first. So here we are. Quite unlikely to change but at least we can villify the guy who doesn't get the extra subsidy. Makes us feel better.
I'm betting money Sayne taking shit. A 10 cent spike at the end of day is not a sign of insider trading. It's the sign of Friday day trading on a shitty penny stock which is what this company has been reduced to.
I'm sure you'll enroll anybody. That's one of the biggest issues. The curriculum has been dumbed down to accommodate people who can barely read or write. And guess what - they get As! I know, I teach it. And EDMC pays good money to have experts troll and track the web for hapless victims who go on to incur debt they can never pay back. Guess who is stuck with the bill? Us. And you...I mean the taxpayers will loan the money ABSOLUTELY! a LOT of money! 50k for an AA? Oh yeah. that's an EXCELLENT deal :-) That's issue #2. A guaranteed job? That's quite questionable. What kind of job? In the field of study? And does it pay more than $10 an hour, and is it full-time? I've worked here for over a decade and seen it all first hand. Hey, times are tough, ya gotta do what you can to make ends meet. But that doesn't mean I have to drink the Kool aid. Look, I talked with grads recently at their exhibition. I love these students. They worked hard. The work is quite good, at least for those who made it thru - But check out the drop stats. A lot of people drop and have big time debt. Now, the only guy I talked to that was in good shape got thru school on the GI bill. So WE paid his tuition. He said the others were just trying to find work, not to achieve their dreams, but to pay off 100k of loans. 100k. At maybe 35k a year. I have a friend who just graduated in culinary. AA. Good student. Owes maybe 25k. Her payment is 300k a month. She can only find PT work, $10 an hour. You seem like a smart person, do the math. 1/2 the month she works just to pay her loan. For the next, what, 15 years? Instead of enrolling students please steer them towards a good community college that will cost them next to nothing and will proved them with a much better experience and education.
Parts of this site are bullshit. The Ticker is EDMC and is traded on the Nasdaq. There was some insider buying at the end of the day--the stock is now $1.70, down from $28.00 two years ago.
No campus closings are announced and it is bullshit that there will be--I'll enroll anybody who calls and we'll loan you the money. I guarantee you a job.
Students should tell Ed West what they ate thinking. He sure as hell does not listen to employees.
West isn't worried about students.. As long as he gets his criminally high paycheck every 2 weeks.. If only he was smart enough to realize that without students, he has no paycheck.
Someone please let Mr. West know that some of us students are watching his every move and trying to decided if we should try and stay enrolled to finish our degree or get out now! This way we can go to a state college and start all over again from scratch. THANKS a bunch!!