You don't have to be a religious institution to run a non-profit school. Colorado State University is non-profit
6 replies (most recent on top)
It's amazing that Clifford is viewed by anyone as a savior. His MO is just like CCI - closing schools, losing investors, recruiting the homeless, trouble with the feds ... but he's rich, uses the word "significant" a lot and has honorary doctorates in religion. Clifford was never a college student. He just has a knack for diverting federal funds to his own pocket. http://www.sandiegoreader.com/news/2013/may/08/citylights1-profit-college-recruit-homeless
A majority of the non-profit money isn't from Federal student loans like we are. Hence the 90/10 rule, 10% financing has to be from someone else. I never said title IV loans couldn't be used at a non-profit. Re-read it a point out the false point.
The other points were about a non-profit does not have to be religious institution and listed a non-profit schools was. Those are two facts. If you are truly in finance and can't read something correctly it makes me wonder if you can even add.
If Clifford's financers finish the deal, we would probably stay for profit. The difference is whether Heald would be publicly traded, or held through private equity. Word is it will be the latter. They then try to build up valuation and sell for a profit. This is what happened when Heald Capital sold out to Corinthian. A group of people made millions on this and Clifford will look to replicate. I just want to keep my job.
I suggest both of you look the definition up.
No....A non-profit college, just means that they put the money back into the school. A for-profit college means that they are in it to make a profit and the money earned doesn't necessarily have to go back into the school. Many times, for-profit schools have share-holders that they have to answer to and earn money for. Non-profit colleges and universities can be private or public institutions. Both non-profit and for-profit schools can utilize Title IV funds (federal grants, loans, and work-study) if approved to do so. The only thing you had right about your comment is that non-profit does not have to be a religious school.
CCI is "non-profit" charging 70K+/yr. = No Profit