Online Colleges that Accept FAFSA. Not long ago, Congress required a school to conduct more than 50 percent of its teaching in a classroom setting in order to qualify as federal financial aid distributors.
This tactic prevented so-called “diploma mills” from qualifying for federal aid, yet negatively impacted many students who were pursuing a degree through legitimate online programs. Many of these students were working adults, rural residents or military personnel who benefited from the flexibility of distance learning, but needed help paying for a college education.
In February 2006, the requirement was lifted, making federal aid available to eligible students who wanted to attend an online college. Also, many institutions started offering financial aid packages to students, some in the form of loans and others via a combination of loans, scholarships and other higher educational funds. When it comes to online colleges, accreditation is key. 3 Facts for Students to Know About For-Profit Colleges and Student Debt. Not all press is good press, especially when it comes to recent headlines about for-profit colleges.
The Consumer Financial Protection Bureau made news when it recently sued for-profit Corinthian Colleges, which operates schools under the Everest name, among others, for predatory lending. And when Occupy Wall Street activists paid off $3.85 million in Corinthian College students' private student loan debt, it got the media's attention. We're paying greater attention to for-profit colleges because investigations are turning up worrying borrowing levels, debt levels, default levels, and poor outcomes in general, including some cases of fraud, says Pauline Abernathy, vice president of the Institute for College Access & Success.
But bad press aside, for-profit colleges have become increasingly popular. [Discover the best online bachelor's degree programs.] Everest College's fate renews debate over for-profit colleges. Jeremiah Hood is upbeat for a man who will be cleaning out his office in a year’s time.
He’s president of Everest College in Earth City, and news has just come from the corporate office that his campus will be closing. Everest’s parent company is Corinthian College, a for-profit enterprise that has come under fire from a half dozen states and the federal government over allegations that it distorted student grades, slanted attendance records and exaggerated job placement data in its advertisements. The government scrutiny led to Corinthian’s announcement this month that it will be closing some of its nearly 100 campuses and selling the rest, including its Everest sites in Kansas City and Springfield, Mo.
But Corinthian is just one player in the for-profit higher-education industry that has long been criticized for tempting students with marketing that promises well-paying careers but, in many cases, saddles students with debt. Hood sees it differently. Everest College's fate renews debate over for-profit colleges. College Results Online. Uk.businessinsider. How to apply for student loan forgiveness if you went to a Corinthian Colleges school. In the ongoing saga of defunct for-profit university Corinthian Colleges, the federal government announced Friday that more relief is coming for thousands of students who attended the schools.
Corinthian Colleges, Inc. was shut down in 2014 after a federal investigation revealed rampant fraud at its more-than 100 campuses, where schools routinely published inflated job placement rates and used aggressive recruiting practices to lure new pupils. Last week, a California superior court judge ordered the company to pay $1.2 billion in restitution to students and investors it defrauded, which makes the $30 million fine levied by the Department of Education last summer pale in comparison. There’s no telling if the company will have the funds to meet either requirement, as it filed bankruptcy last year. Former students’ best shot at relief has been loan forgiveness. Debt Relief Available For Former Everest College Students. The U.S.
Department of Education announced a loan forgiveness program for students who were defrauded by Corinthian Colleges Inc., the now-defunct, for-profit college chain that operated Everest and WyoTech campuses. The federal loan forgiveness program will cover students enrolled in programs at 91 former Corinthian campuses in over 20 states, including seven Everest campuses in Illinois. According to Illinois Attorney General Lisa Madigan, thousands of former Everest students are eligible for student loan relief. House Budget Would Reduce College Access by Cutting Pell Grants. We noted today that nearly every state is funding higher education at lower levels than before the recession, forcing tuition hikes that make college less affordable — and some states are planning more funding cuts.
The budget plan that the House is expected to approve today would likely put a college education further out of reach for many young Americans. As our new paper explains, the budget deeply cuts Pell Grants, which help more than 8 million students from low- and modest-income families afford college. Research shows that Pell Grants and other need-based aid enable more low- and moderate-income students to attend and complete college. Unfortunately, Pell Grants have lost considerable purchasing power over time. The maximum grant now covers about 30 percent of the average cost of a four-year public college, the lowest share in 40 years. The House budget’s justification for cutting Pells — that the program’s finances are unsustainable — is unconvincing.
If You Were Duped by a For-Profit School, Use This Form to Dispute Your Debt. Here’s How to Solve the Student Debt Crisis: Make College Free. Sometime in 2008, I got a phone call informing me I had defaulted on my student loans.
I had thought I was in a deferment period, but I had moved several times, and I wasn’t receiving the letters in the mail telling me my payments were past due. Seriously past due. As a consequence of the default, 19 percent was added to my principal. A debt that had once seemed merely enormous now appeared astronomical. I felt guilty: This was the punishment I deserved for having done wrong, for having failed to live up to my obligations.
Student Loan Debt: The 5 Things Millennials Wish You Understood (And Would Leave Them Alone About) I am so fed up right now I could scream.
I turned on the news (as I do every evening) and was greeted with the information about how the Feds are raising interest rates. That isn’t what bothered me so much, as it was the bitching by several pundits about how millennials don’t want to invest in purchasing large ticket items, like a home or vehicle. It was like someone had thrown down the gauntlet.
I am so sick of being told how our generation is such a pain in the ass. Former Students Are Taking To For-Profit College Open Houses To Warn Prospective Students. Ami Schneider wears her degree from the The Illinois Institute of Art Schaumburg in a frame tied around her neck emblazoned with one word written in red paint — “worthless.”
Schneider, 29, is one of a growing group of graduates and former students of the Art Institutes (AI) who are protesting at for-profit college campuses across the country. They’re targeting open houses for interested students, handing out flyers to let parents know about the ongoing litigation against for-profit colleges, and advising students to spend some time investigating the schools they’re considering. Protesters have been calling police stations ahead of time to ensure they aren’t encroaching on private property, but that hasn’t stopped some administration officials and security guards from coming outside and challenging protesters’ right to be there. Still, activists are determined. Federal Student Aid. Fastweb : Scholarships, Financial Aid, Student Loans and Colleges. FinAid! Financial Aid, College Scholarships and Student Loans. MyFICO's Financial Aid Guide Details Every Option for Paying for College.
Lifehacker. Sanders in Iowa Focuses on College Affordability. Like Fares On A Plane, College Tuition Bills Vary Widely : NPR Ed. College could cost up to $100,000 per year by 2030. Here’s how to save. When today's 18-year-old college freshmen were born, the average tuition at a public university was $3,111.
At a private university, it was $13,785. Since then, the price of college has risen far faster than inflation: Tuition has tripled at public universities and more than doubled at private universities. That creates a dilemma for today's parents. It's a safe bet that college will be more expensive by the time their kids get to college.