Financial Aid

Career College Central Summary:

  • Let’s clear the air about the default crisis. In doing so, we’ll set aside the debates about for-profit default problems, institutions that serve “high risk” populations being unfairly targeted, and studies that “prove the theory” in support of the new federal policies.
  • The federal government continually runs the risk of overstepping its boundary on regulations affecting higher education in...

Career College Central Summary:

  • Iraq and Afghanistan veterans have flocked to for-profit colleges, including a troubled chain that is closing or selling its campuses amid a series of federal and state investigations.
  • A report to be released Wednesday from the office of Sen. Tom Harkin, D-Iowa, a critic of the for-profit education industry who chairs the Senate Health, Education, Labor and Pensions committee, finds that for-profit colleges received $1.7 billion in...

Career College Central Summary:

  • “The for-profit colleges are both driving up the amount of student loan debt out there and they're driving up the number of defaults," said U.S. Sen. Elizabeth Warren. Warren believes for-profit schools are loading up low-income students with debt that they can't possibly repay.
  • "When that happens the students get hurt, the taxpayers get hurt. But the colleges just keep on taking federal dollars with almost...

Career College Central Summary:

  • Biohealth College in San Jose and the Bryman Colleges in San Jose, Hayward, San Francisco and Los Angeles together enrolled about 280 students whose course credits may now be worthless.
  • But California Department of Consumer Affairs spokesman Russ Heimerich, whose agency oversees for-profit colleges, says the students won't have to repay any federal loans they may have taken out to finance their educations and may be eligible for...

Career College Central Summary:

  • Advocates for community colleges are pressing federal lawmakers to make adjustments to a student loan law they say is a “blunt tool” that could unfairly penalize colleges where only a small portion of students default on their federal loans.
  • The U.S. Congress in 2008 expanded the window for tracking so-called “cohort default rates” to three years, up from two. As anticipated, that move resulted in higher...