Thread regarding University of Phoenix layoffs

There he goes again. CK posting his 2 dollar lawyer wanna be nonsense.

@Anonymous151937, it's hard to imagine anything positive in the near future. Replacing Bob Shireman with Ted Mitchell was a signal that for-profit education would need get the same scrutiny as they did just after Obama was elected. Apollo Group is probably figuring that the next administration (and Congress) will be able to undue gainful employment and stop any major lawsuits.

@824. You make a reasonable proposal. The fact that neither the feds nor the corporation has instituted these student and taxpayer fail-safes has been been the subject of many reasonable posters on this site. It just goes to show you how pathetic both entities are. All interested parties obviously lose but to kill a generation's ability to buy a house, a car or start a family because student loans are the one debt that can't be discharged through bankruptcy is strangly anachronistic and sadistic especially for a documentally proven failed product.

Agg limits should be dropped to $8k - $10k. If graduates cannot prove themselves to be able to achieve at least career-relevant, entry level work and start making contributions towards the initial debt they should not be allowed to pursue a higher education. This means that colleges need to work at establishing shorter term career-oriented programs to help them get a kick start with their careers. Those programs must report grad rates, job placement, career earnings. Not unless that student is meeting certain expectations can the programs continue to be offered and student continue to achieve higher ed. There should be no reason to set an agg limit at $57.5k for anyone who is incapable of providing "stated income."

@7726 Right. 19th Century snake oil salesmen were equally loved. Are you ignorant or willfully stupid? Low breeding?

@7726 Right. 19th Century snake oil salesmen were equally loved. Are you ignorant or willfully stupid? Low breeding?

Excuse me. I meant 35 billion.

Kudos to remaining Enrollment Representatives. Any sales force that sold 35million dollars of any product should be the most highly recruited sales people in this country.

Astounding number. Someone along the way had to make a mint. We are still encouraged to add more debt for obviously not ready students. It is no one's fault other than the government to allow this. What will it take to bring this into account? Their were controls until George W. was the President. Now the republican congress protects these continuing practices. I don't care of your political bent, but that is just a fact. Start with congressman Kline of Minnesota, chairman of House Education committee.

2009 most of those are probably still using up deferrals or enrolled somewhere else to postpone the unpayable bills and collections. The 10 year default rate will be 90+%

No, poor learning outcomes are the results of the high default rate.

These figures don't even represent the whole picture. Let's say $35 billion was borrowed in 2014. Yet 47% is allegedly the default rate within 5 years of completing their programs or dropping out? Then again how far in were these defaulters? Did they default on $300 or $40k?? A lot more detail needs to be addressed before making any conclusions. Data would then need to be analyzed and compared to the thousands of other Title IV recipient institutions to determine whether outcomes are similar or completely off the charts.