For-profit schools with graduates unable to pay back their loans may soon face scrutiny by the federal government.
http://bigstory.ap.org/article/c9fba2978ad4489e9aa73500532a7477/profit-colleges-face-gainful-employment-rule
5 replies (most recent on top)
seriously, you assholes have enough graduates to sink a kayak? Love watching you run for your petty jobs!
I said it before and I will say it again. The degrees they offer are only worth about 20,000 - 30,000. At that price it would have real value. The rule of thumb is never pay more for college then you will make in your first year in a real job.
Estimated annual loan payment of a typical graduate does not exceed 20 percent of his or her discretionary income or 8 percent of total earnings. This is going to kill AI. Lets do the math. Lets say you actually fiend that job in your field that AI likest to talk about. A typical Graphic Artist wold make about 35,000 a year. 8% would be $233 a month. That seems fair. Unfortunately for a real AI student with a $100,000 loan it's more then 3 times that amount at about $800 a month! AI needs a reality check. 100,000 for a lucky few who make 35,000 a year is still a suckers deal.
"Students at for-profit schools are more likely to live at or below the federal poverty level and receive food stamp benefits than students in other sectors of higher education. About 1.3 million students enrolled last spring at a for-profit school, according to the National Student Clearinghouse Research Center."
Looks like Obama administration has had enough.