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For-profit Higher Education
Some of the nation’s largest veterans and military organizations sent letters last week to the Veterans Affairs Department asking it to crack down on colleges that prey on veterans by charging exorbitant fees for degrees that mostly fail to deliver promised skills and jobs.
Schools have become “soft targets” for companies trying to gather data and market to children because of the push in education to adopt new technology and in part because of the rise of computer-administered Common Core tests, according to a new annual report.
Ben Miller writes: The declaration that everything is OK at a place that is falling apart amid allegations of wrongdoing should have started a frank conversation about improving America's process for college quality assurance. But instead of openness or an acknowledgement of problems, all but one of the four agencies responsible for reviewing Corinthian have hidden behind a veil of secrecy.
For years, the Obama administration has promised to punish for-profit colleges that produce graduates who can’t afford their student loan payments. But before it can punish career schools for impoverishing their students, the department needs to collect data on how much students are paying — and how much they’re earning. And now, “defects“ plaguing a new, multimillion-dollar online portal that was supposed to manage that data have forced the department to temporarily abandon the system.
Forbes Contributor Ryan Craig writes: My Grease-induced childhood trauma explains what most upsets me about the current regulatory direction in postsecondary education: a Hobbesian guilty-until-proven-innocent approach with the burden of proof firmly on the institution.
For online lenders, the business model of targeting Ivy League student borrowers is starting to backfire. The problem isn’t that graduates of these and other prestigious universities are deadbeats. Rather, these customers, who the lenders covet for their superlow default rates, are proving savvier and more anti-debt than anticipated.
The brokers may have recognized the University of Northern New Jersey as a visa mill, Barmak Nassirian said, but he could see how some students could be deceived by its certifications. “Can you really blame a student,” he said, “even if they are a little greedy, a little gullible, or a little too hopeful?”
There are all sorts of financial aid, housing and medical forms that most college students can expect to fill out before starting classes, but for the most part only those attending for-profit schools are confronted with a piece of paper that seeks to curb their rights. Enrollment contracts have become a popular way for career schools to protect their financial interest by tucking in clauses that bar students from filing class-action lawsuits or otherwise taking their grievances to the courts.
New York medical schools and their competitors offshore are clashing over a precious resource: the opportunity for students to watch and learn from doctors in hospitals.
As parents face the prospect of paying for college this fall, Sallie Mae is offering a new option for those considering borrowing to cover costs. The private lender said Tuesday that it is now providing parent loans at a lower cost than the government.