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For-profit schools cry foul on loan rules (Reuters)

Published on November 4, 2010 By

WASHINGTON (Reuters) – For-profit schools are opposing what they argue is a “retroactive” crackdown on student loan defaults, and said on Thursday that they may challenge the U.S. Education Department in court. The fight over whether the department can look at default data of students who left school three years ago is the latest twist in a larger battle over new rules aimed at cracking down on tuition loan abuses and ensuring courses lead to gainful employment.

How to Find Your Optimal Debt Level (U.S. News & World Report)

Published on October 20, 2010 By

In the wake of the recession and mortgage crisis, it’s easy to forget that all debt isn’t bad.

Govt. delays rule opposed by for-profit colleges (AP)

Published on September 24, 2010 By rohit

The U.S. Education Department said Friday it will take more time to finalize new regulations targeting for-profit college job-training programs, but emphasized it was intent on moving forward and holding the sector accountable. For-profit colleges have campaigned hard against the “gainful employment” rule, which would cut off federal aid to college vocational programs with high student debt levels and poor loan repayment rates.

Online Degrees: Learn More Before You Enroll (U.S. News & World Report)

Published on September 22, 2010 By rohit

Enrollment at online programs jumped from 229,363 to 2,139,714–an 832 percent increase–from 2001 to 2009 according to higher education consultancy Eduventures. An explosion of that magnitude has not only caught the eye of potential students, but of Congress and regulators, who in recent months have been critical of for-profit online programs’ recruiting practices, transparency, and ability to provide their students an education that will enable them to find adequate employment once their degree is in hand. “Far too many for-profit schools are saddling students with debt they cannot afford in exchange for degrees and certificates they cannot use,” U.S

On the Call: Discover Financial CEO David Nelms (AP)

Published on September 20, 2010 By rohit

NEW YORK – Discover Financial Services Co.

Loan Default Rates at Prominent Online Universities (U.S. News & World Report)

Published on September 16, 2010 By

After months of scrutiny from legislators, for-profit schools were dealt another blow when the Department of Education released the most recent federal student loan default rates this week. The national average default rate has risen by a tenth of a percentage point to 7 percent from last year, while the rate at for-profit schools (the largest of which are online-oriented schools like the University of Phoenix ) jumped from 11 to 11.6 percent. “While for-profit schools have profited and prospered thanks to federal dollars, some of their students have not,” U.S.

For-profit education shares dive on loan data (AP)

Published on August 16, 2010 By rohit

NEW YORK – Shares of for-profit education companies slid Monday as government data showed that many of their students aren’t repaying school loans, which could imperil the ability of their students to receive federal financial aid, the bulk of the schools’ revenue. Several schools contested the government’s methodology, but that couldn’t stop shares of the companies from tumbling to their lowest points in a year or more.

For-profit schools get report on loan repayments (Reuters)

Published on August 14, 2010 By rohit

WASHINGTON (Reuters) – For-profit schools got a report card of their own on Friday, as the Department of Education released data showing estimated student loan repayment rates, part of a drive to tighten oversight of the industry.

U.S. to release for-profit school debt data Friday (Reuters)

Published on August 12, 2010 By

WASHINGTON (Reuters) – The government plans to release student loan repayment rates for for-profit schools on Friday, identifying institutions by name, as part of efforts to tighten scrutiny of federal student aid. The step underscores how the Department of Education is trying to strengthen links between federal student aid and students’ ability to repay loans after completing their education

Some for-profit colleges dupe applicants: GAO report (Reuters)

Published on August 3, 2010 By rohit

WASHINGTON (Reuters) – U.S.