Corinthian Colleges Completes Collapse, Closes Remaining Campuses Effective Immediately

Corinthian Colleges Completes Collapse, Closes Remaining Campuses Effective Immediately

Although it was nearly a year in the making, the largest collapse in U.S. higher education finally occurred Sunday, as embattled for-profit education chain Corinthian Colleges Inc. – the operator of Everest University, Heald College and WyoTech – announced it would close the remainder of its campuses effective Monday. [More]

DeVry is shuttering 14 campuses in 11 states, and moving those students online.

DeVry Closing 14 Campuses, Moving Students Online

Amid lawsuits, scandals, shutdowns — not to mention the many former students who say they racked up huge student loan bills without getting an adequate education — enrollment at for-profit colleges in the U.S. continues to shrink. And students at 14 DeVry campuses in 11 cities will soon have to take their education online with the educator moving those schools online in an effort to save money. [More]

(Michael Sauers)

Starbucks Expands Tuition Reimbursement Program To Cover Four Years Of Online Schooling

After more than 2,000 Starbucks workers headed to college through the company’s tuition reimbursement program with Arizona State University, the mega-coffee company announced it wouldn’t leave those student high-and-dry after just two years. Now, the company plans to expand the offering to cover a full four years of tuition at the college for eligible employees. [More]

Xavier J. Peg ☠

For-Profit College Enrollment Is Down Following Scandals & School Failures

With increasing scrutiny from lawmakers, regulators, consumer advocates and the general public, the past five years have been hard on a for-profit college industry that had enjoyed years of happily feeding at the federal student aid trough. There have been changes to schools’ often excessive advertising budgets, damning reports of abuse, and soon-to-be-implemented rules requiring for-profit programs to demonstrate their effectiveness. The fractures in a business model that has attracted some of the biggest names in investment have become more evident, especially when comparing previously robust enrollment numbers with the most recent figures. [More]

(tomQ)

Report: Taking For-Profit Colleges Nonprofit Can Generate Hefty Profits For Owners

Earlier this year Education Credit Management Corporation bought 56 campuses from embattled for-profit chain Corinthian Colleges Inc. and took the schools to the nonprofit sector. While that conversion was initiated because of the ongoing collapse and financial problems facing CCI, other college chains have dropped the for-profit status seemingly to pick up hefty profits. [More]

(Xavier J. Peg ☠)

Federal Student Loan Forgiveness Plans Cost Govt. Nearly $22B More Than Expected

Last spring, legislators and researchers began voicing concerns that federal student loan forgiveness plans could become a victim of their own success. This week, we learned just how successful – and costly – such program are; information that once again created a chorus of concerns regarding the sustainability of such programs. [More]

(Great Beyond)

College Students Leaving $3B In Grant Money Unclaimed By Not Filing FAFSA

College students and financial supporters of college students: Remember when we told you at the end of the year that you needed to get your Free Application for Federal Student Aid in ASAP? Maybe you pinned it on the cork board in the kitchen or made a mental note that disappeared as soon as you had to remember the finer points of the infield fly rule. It’s because people didn’t get around to filing their FAFSA that there are billions of dollars in unclaimed grant money just sitting around gathering dust like that post-it note on which you wrote “File FAFSA. Buy bread.” [More]

(Morgan)

Proposed Scorecard Could Help Protect Students From Dangerous Banking Products

For the past several years, federal agencies, lawmakers and consumer advocates have shared their displeasure with the rather cozy relationship between the financial industry and higher education institutions and set out to protect consumers from the often shady deals made between the two groups. Now the Consumer Financial Protection Bureau is setting out to protect students by creating a scorecard that would help ensure colleges have all the pertinent details when it comes to partnering with financial institutions that offer checking and prepaid accounts to students. [More]

(Coyoty)

White House Proposes Free Community College For Dedicated Students

The cost of a college education has outpaced inflation for the last few decades, making school less affordable for millions of Americans and driving student loan debt past the $1 trillion mark. And in the last decade, the for-profit education industry has taken in many billions of dollars in federal student aid for schools with high dropout rates. Today, President Obama offered a suggestion: Free community college educations for those willing to stick to it. [More]

FAFSA deadlines vary wildly from state to state and from school to school, so it just makes sense to get yours filled out right away.

To Anyone Paying For College: Start Your Year Off By Filling Out Your FAFSA

Among all the resolutions you should make for the new year — saving money, losing weight, quitting black tar heroin — there’s an easy one that gets left off that list by parents of college students or anyone else paying for a higher education: Filling out that Free Application for Federal Student Aid Form as soon as possible. [More]

(bluwmongoose)

Report: Nearly Half Of College Students Don’t Know How Much Their Tuition Costs, If They Have Student Debt

Over the past year we’ve read a number of reports that shone a light on just how prevalent student loans are: nearly 40 million consumer have taken out at least one loan to pay for their education. Now a new report takes a look at just how much students actually understand about the cost of their education and student debt. And, as we all probably should have expected, the findings aren’t exactly pleasant. [More]

(Misfit Photographer)

Bill Would Allow 529 College Savings Plan Investors To Change Investments Twice A Year

With less disposable income and difficulty meeting the ever rising cost of tuition, parents often have a tough time saving for their child’s future education. A law poised to make its way though Congress aims to give parents using certain college savings plans more flexibility in their investments. [More]

For-Profit College Hired Exotic Dancers As Admissions Reps

For-Profit College Hired Exotic Dancers As Admissions Reps

The operators of a now-defunct for-profit college in Florida allegedly told its admissions directors to do whatever it took to sell the school to potential students. Among the tactics used by the school is one straight out of a wacky, low-budget, late-night college movie you might see on Cinemax. [More]

(Michael)

New Plan Expands Availability Of Some Federal Student Loans For Consumers With Tarnished Credit Histories

Families hoping to assist their child in paying for college may soon have greater access to federal student loans under a plan recently finalized by the Department of Education and Obama administration. [More]

The percentage of students from affluent families that leave college with student loan debt more than doubled in the past 20 years.

Percentage Of Rich Kids Needing Student Loans Has Doubled Since 1992

At one time, prospective college students from affluent families could count on having their tuition paid for by their parents or college savings accounts. But times have changed and now even students from the highest income brackets are borrowing to finance their high education dreams. [More]

(frankieleon)

Why Paying Your College Tuition With A Credit Card Is A Bad Idea

A few weeks ago, we listed for you a wide variety of creative and mundane ways to pay for college. What we didn’t get into were ways to get money from your bank account to the school’s hands. While you might put every other expense on a credit card and pay it off every month, there are reasons why it can be a terrible idea to put your tuition on a credit card. [More]

John Oliver On For-Profit Colleges: You Might As Well Go To Hogwarts

John Oliver On For-Profit Colleges: You Might As Well Go To Hogwarts

What would it look like if you condensed all our hundreds of stories about student loans and for-profit colleges into a profanity-filled, hilarious rant that takes a brief detour to discuss Lyndon Johnson’s scrotum? John Oliver answered that question on Sunday night. [More]

The Only Thing College-Like In These College Themed Hotels Is A Painting Of A Red Solo Cup

The Only Thing College-Like In These College Themed Hotels Is A Painting Of A Red Solo Cup

Have you ever wanted to go back to college – you know, to relive the glory days when you received your first taste of freedom? We’ve all through about it at least once, right? Well, a new hotel brand aims to take consumers back, but their approach seems to be lacking – a lot in our humble opinions. [More]