Does anyone have anymore information regarding Ai campuses closing down if they have less than 500 students? Will they layoff employees first and centralize their job responsibilities first? I heard all full-time faculty are being let go as well as FA, accounting and the registrar office. I just have so many questions while trying to peice together all the rumors. Keeping campuses open with more than 500 students still does not stop gainful employment regs from closing campuses down by stopping federal aid disbursements. Any pros on this subject have any new news?
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A number of South people traveled to Tampa for meetings tomorrow
Of course when I said I was visiting family, I meant the EDMC family. Oh, and if that doesn't work, I have a distant relative there so I can claim the meeting is purely coincidental in terms of timing AND location.
Well this is interesting. Our president told everyone she was visiting family in Florida. Any other Presidents out with different excuses?
Ai presidents are meeting on Miami on 2/24. Is there any information on the purpose of this meeting. I suspect it's related to this discussion.
to 70114's point regarding "Lease Breaks", most of the leases are guaranteed by EDMC, while the various schools have individual ownership entities and are the primary obligor under the lease. It will only take a few of those hitting at the same time to really suck the cash out of EDMC fast. The sublet market is still realy soft as the economy has not fully recovered from the recession. Commercial Space sublease deals take some time. Word...
it's a matter of time before we will know and it will not come from management
The Brown Mackie College in KY only had 350 students, I know I was one of them. Before they shut down they stopped enrolling students in certain programs and shut those programs down about 6 months ago. Surgical Tech was one of them. I know the Cincy location shut down about 8 programs. I imagine they were not meeting all the block in the gainful employment matrix.
There is also news coming of another major lawsuit that has been kept quiet up until now. This place is so corrupt and incompetent it is a miracle it is still open. Won't be long until it is shut down for good, though.
Starting in July (and in many cases before) you will see many functions being centralized and positions eliminated at campuses: accounting, registrar, financial aid, career services, student affairs. The 80% of Ai programs and 50% of BM programs is accurate so do the math if what will be needed in your campus with only 20% or 50% of your programs being offered. Less than 500 now will mean further reductions and lease breaks while programs are taught out at temp sites. Full time faculty will be gone by summer too. Will be all adjunct. Happy times.
But the estimates were that GE would wipe out 80 percent of AI and 50 percent of Brown Mackie so I think the reality that you already know which campuses are going to fall short. I'm sure 500 students is the number used to decide if a school is worth your trouble.
The Gainful Employment regulations are program-by-program, not campus-by-campus. Additionally, they cannot hurt a current student in a program (i.e., remove her or his access to federal financial aid) until 2016 at the earliest. There are no truths to these rumors surrounding the closure of any campus with fewer than 500 students.