For-Profit Colleges Win Concessions

For-Profit Colleges Win Concessions

October 18, 2019 26 By Stanley Isaacs


they gainful employment act was
something that was introduced by the education department and the old balmy
administration and what it would do out would basically hold for-profit colleges accountable four the amount of student loans at
their students have and the amount of students who default on their student
loans after they graduate so this is something that out for-profit
colleges worse still scared out because they knew that
gift this gainful employment act would pass on the senate their students would no
longer be eligible for financial aid because what happens is he’s for-profit colleges have these sub
par programs the students take out all these loans
for these programs are unbelievable amounts of student loan for
these loans for these programs and then they graduate now unable to pay
those loans off so what happens the american taxpayer ends up picking up the
tab so the government had to start holding
these colleges accountable the education department finally passed
five days gainful employment act however the for-profit colleges were
able to get away with major concessions and i’ll tell you with those concessions
are just a second so out what the gainful employment act
would do is it would lookit eves individual programming every
single for-profit college and it would look at the amount of
student loan debt that these students takeout and the amount of students who default
on those student loans okay so if at least forty five percent of the
students at eight college or university art able or a for-profit college or
university are able to pay off their loans with no
problem then that program will be unaffected and all of the students that
go to that institution will still be eligible for financial aid however if the only thirty five percent
of those students are able to pay those loans and they’re not for profit college is in trouble now what are the concessions well it
turns out that in order for of for-profit college to get their
financially taken away from them they would have to break this rule three times on site not three times dot
yes three times within a four year period okay so they would prompt four years and it would have to break that moved
three times within the four years in order to be ineligible for the financial
aid that is a huge concession okay so people
who backed aba gainful employment act people such as myself are very upset about this i don’t think
it makes any sense i liked the idea of giving these
for-profit colleges a certain period of time to straighten
up their act and make sure you know they get it together and if they do and then there’s still
eligible for the financial aid but i don’t think it makes uh… makes any sense to give them as many chances
as they are going to get under this regulation rethink chap the thing is is that will over a four-year period this many
students has to base right or mad not the students will go
ahead that situation up to a point to me like you said you
have to get i’d guess you’ll have to give them some leeway since they’ve had
free reign for this long unforgiven which has the too way it’s going to be so give me maybe takes that long you know i was
almost try to be laying it on this is because in i don’t know exactly how cries to change them especially in
business model is to make them as well as possible and not
really provide the services of promising to the full extent summer maybe cut out here enormity g if you know someone’s into
the air i completely and then we can do with a bird cabbages stretch out some more profits for absolutely that’s the way i see it you would have
to break the rules three times in a four-year period dot three times really and in this is what i got from the bed regulation that just passed okay the for-profit colleges they shelled out some serious cash okay
serious cash because they’re getting away installed
my here three times before your parents like up you know what’s the law three strikes
you’re out right but he with for-profit colleges they’ve
had such a long time reap the benefits of their programs of
other financial aid of taxpayer dollars look if you guys don’t remember the
reason why this such a big story right now is because only twelve percent of
students in the united states go to these for-profit colleges except half of all student loan defaults barbara students who go to for-profit
colleges that’s a huge number okay only twelve
percent students go to these colleges however half of all student loan
defaults are from poor profit college students okay so who’s picking up a tablet as i said it’s
the taxpayers okay so we have to hold these people accountable and i liked the idea and giving them
time to pick you know clean up their act in get it together i think that that make
sense and i think that’s fair to give them three chances within a four
year period that’s a huge concessions nor the funny part about that one of the defense is for the colleges and saying you know with
isn’t you know we need to have a opportunity termite education for a lot of you know minority zinger students that they’ll have a chance to
do that get this education what we want to take away a few chances
to continue to ruin people’s lives have a certain level testing get in the car to pay for college can you take everything you got from
them in outside of the taxpayer dollars you know that you got bad credit for
monies small ways if they get in this league it
dot so all those if they’d affects everyone effects and of course directly first is
that that wilson excitement on your lawn for something and never gonna get now
they’re voting on the same position is all the same cycle i think about argument that ab
for-profit colleges make the argument that they provide education to minority and low-income students i think
that’s the most asinine argument ever okay and why do i think
that if you are trying to provide an education to low-income and minority
students anyone charged in tens of thousands of
dollars each year for your terrible program that will get them to know where when
they graduate okay it’s so it’s not just a couple and it’s just preying on people
who are desperate to get an education people who really hope that you know if
if they get this degree or this associates degree or this diploma there somehow going to graduate and have
a better life it makes me sick to my stomach to know that the school’s prayed
prey on that and you don’t look idon’t want to have
any blanket statements here there are definitely some for-profit colleges mera
okay can you tell that i don’t like their
schools you really have to do your research and
you have to make sure i like you understood should look into these colleges and
figure out how many students take out these massive
loans how many of the students actually find
work after they graduate how many of the students default understand loans after
they graduate or while they’re still going to school it’s important to do