Does EDMC have the same issue with student loans that Corinthian Colleges had? If EDMC students are defaulting in large numbers, what do the loans look like? Where are the loans originating? What are the interest rates and fees? Wow are the loans being packaged, securitized, or insured (e.g. as student loan asset backed securities)? Here's the latest on the CFPB and Corinthian Colleges..... http://files.consumerfinance.gov/f/201409_cfpb_notice-for-current-and-former-corinthian-students.pdf
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Well said 37232. So tired of "sate Universities make money too" talking point from EDMC. Yeah, the difference is the money goes back into the school not to shareholders, CEOs, and bankers on Wall street. 20 years ago, real colleges and universities would offer FULLY PAID tuition for those with the highest grades. Scholarships paid for by THE SCHOOL. EDMC is probably clutching at their own pearls at the thought of such a thing.
If not mistaken, aren't the tuition fees at most HCBUs far below most of the for-profits? Yes, both serve a difficult demographic but clearly, most HCBUs seem to attempt to demonstrate the mission of education as opposed to EDMC's mission, which is to profit from the business of managing Federal Education dollars. By now, we should all be getting wise to the for-profit sector's tactic of "hey, the other guy's just as bad as we are, how come you're picking on us?" The answer to the question of whether "difficult" and under-served communities deserve the opportunity of an education is a resounding Yes, but not at the cost levied by schools like EDMC.
Is HBCU a billion dollar for-profit corporation in the stock exchange getting 90% of its money from the Government with false claims of customer success? Uh, no. They investigated EDMC for the reason stated above.
"shouldn't each edmc school be graded upon its own merit?" No, it's a giant billion dollar corporation, not a small independent school. When corporate says jump, you say "how high". All the marketing is done on a corporate level, like that one student who got that one great job. You can't have it both ways.
Has anyone ever investigated the job/graduation/default rates for an HBCU? Many here on the east coast would be thrilled to have the numbers that some of the Ai's and Argosy's produce.
"regular college or university"... what does that mean? shouldn't each edmc school be graded upon its own merit? what if you were to compare an edmc school to a similar private or public school within a similar market?
Camden- This, once again, shows how you do not understand the industry. The short answer is EDMC does not have that same problem.
All I know from the lawsuit is that the default rate on the loans from EDMC is very high, much higher then a regular college or university. So that translates to fewer people getting jobs with an Art Institute degree then any other school in the same tight job market. Which also means either the students are not up to the same high quality when they graduate or EDMC has such a bad reputation that no one wants to hire from them or both. And that is not even factoring in the KIND of jobs EDMC tired to pawn of as "working in their field of study". Which is also part of the Gov lawsuit.