Industry Report

Career College Central summary:

  • The Department of Education has released draft proposals ahead of a negotiated rulemaking session  on program integrity and improvement. That language includes the definition of “adverse credit” for Direct PLUS Loan eligibility.
  • Proposed regulations would change the amount of time borrowers’ negative credit information on their credit report is considered from five years to two years for debts in collection or...

Career College Central summary:

  • The president and vice president made a rare joint appearance this week to tout new federal funds for community colleges and apprenticeship programs. In speeches at the Community College of Allegheny County’s West Hills Center, outside Pittsburgh, President Obama and Vice President Joseph R. Biden Jr. announced $550-million in grants to prepare American workers for in-demand jobs.
  • The bulk of the money, roughly $450-million,...

Career College Central summary:

  • A number of states are working to protect college students as consumers, even as the federal government plays a more important role in regulating both career colleges and the student loan industry. Thirty-two states are now working together under the leadership of Kentucky Attorney General Jack Conway to investigate potential abuses in the career college industry, which saw enrollment more than triple between 1998 and 2008, according to the...

Career College Central summary:

  • The cost of college is getting super expensive, but data show that college grads earn nearly 2 times more than what high school grads earn. And students who secure post-graduate degrees get paychecks that are roughly 3 times what a high-school grad can command. While the 2013-14 average cost for “tuition and room and board” for an in-state student attending a public college is a pricey $20,760 ($25,560 for out-of-state students),...

Career College Central summary:

  • Three Congressional lawmakers are pushing for a new federal committee that would coordinate the government’s oversight of career colleges. Senators Dick Durbin of Illinois and Tom Harkin of Iowa, both Democrats, plan to introduce legislation Thursday that would create a committee comprising representatives from nine federal agencies that oversee for-profit colleges.
  • The committee would be tasked with improving the coordination...