Base your opinions upon what you see happening at your campus.
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Naive question but when the DOE sees that the program's don't meet GE requirements what happens? An instant loss of funding doesn't seem likely?
By July 31, 2015, all schools must comply and report their GE statistics to the DOE for the past 6 years. All 2014-15 data must be reported by October 15, 2015.
Ai, AO, BM, SUO, SU doesn't matter. REBRANDING the wheel with broken spokes will get you no where but a little more time for KKR to get all the Title IV student loan money if can before shutting down for good. Do not believe the smoke and mirrors of years of denial. Defer defer is the business model of today only to see how long it will take.
Does edmc have 2 years to comply with ge laws?
I stole much of this from US News and World Report...my comments are in the parenthesis..
Gainful Employment (GE) regulations would designate a program as failing if its graduates' average student loan payments were greater than 12 percent of their average incomes and greater than 30 percent of their discretionary incomes (these charts can be found on the USDOE website). Additionally, programs whose graduates' average loan payments land between 8 and 12 percent of their incomes would be flagged and required to warn students that they could lose federal aid. (Think about all of the students who are in minimum wage jobs and taking yearly loans of well over 15K!!!! Those students are making 14500 per year if working full time.)
How will this effect the school?
A program then would become ineligible for federal aid for three years if it fails both debt-to-income tests in any two out of three consecutive years, or if it falls into "the zone" for four consecutive years. Likewise, a program can become ineligible for federal aid if its default rate for student loan borrowers exceeds 30 percent for three consecutive years. (The question then becomes, how many students can afford to attend AI paying through private loans and cash?)
Not to sure of the nature of the new enrollment. I have seen many on orientation day and most look as if this was their first college.
Where's AI going? To court. Not being sarcastic.
Although it is a cash cow I see culinary (baking and pastry first) folding like Le cordon bleu programs.
does that number include transfers from AI's closing?
I could see another 10 closures due to GE rules and budget cuts. All depends on KKR now. If I were them I'd get my $ and run before everything capsizes. Looks like Dr. MS will be headed back to counseling people with a lot of "well...ya know, ya know, ya know, cause I don't!"
Opinions are like belly buttons, we all have one...I'll let you know when I have the next list. Until then, speculation.
Our Campus in the Great Lakes area has seen an increase of one hundred plus for the summer start. Largest in about two years.