With disbursements, how much money are we talking about that doesn't go to tuition and fees? If smart but "desperate" people are matriculating, what percentage do you think fall into the category of using disbursements as a way of getting cash flow (and to pay off other expenses, such as rent, car payments)?
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@Walter Sobchak Finance Advisor, from what I gather, you were "living off the government"... given that most of UoPX's funds were from government sources. Wouldn't the government been better off giving the money directly to the people (e.g. for more earned income tax credits, family planning and education, affordable housing, living wage jobs) instead of involving the University of Phoenix and other failure factories?
@CamdenDouche
I wouldn't say that I feel superior.
However I can say that I don't have an absurd amount of kids and no source of income.
There is this crazy new fad out there called "working" maybe you have heard of it?
Evidently you actually do something and earn money instead of living off the government, it's a crazy idea I know.
@Walter Sobchak Finance Advisor, so you feel superior to these people in poverty? If so, why do you feel superior?
@CamdenDouche
There are several factors involved with this calculation.
It will depend on what grade level the student is and how much Pell Grant they will be getting.
We are supposed to encourage responsible borrowing but the students always want the max.
After tuition costs the student will be left with about $2000 in excess funds in each half of the loan period.
May not seem like much but most of these lowers show an AGI on their FAFSA of zero.
Yet they usually show numerous kids on the FAFSA.
So, if you have no source of income and have 6 kids to feed $2000 probably goes a long way.
ITT Tech maxes them out anyway, you will never see a single cent back plus they will drag you out of class every couple months to sign a new batch of toxic private loans to meet the 90/10 rule.
The vast majority aren't going to borrow more than they have to, the real problem is that just raw tuition and books are already high enough that no student will pay back the loans.
Is this an accurate illustration of disbursement at University of Phoenix?........................http://www.phoenix.edu/tuition_and_financial_options/financial_options/financial-articles/2011/06/are-you-expecting-excess-funds-from-your-federal-financial-aid-funds.html