2011 proprietary schools

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2011 proprietary schools

  1. 1. Proprietary Schools: The Real Deal 06/22/12www.collegenowgc.org www.collegenowgc.org 1
  2. 2. What is a proprietary school? • For-profit institution • Operated by owners or investors 06/22/12www.collegenowgc.org 2
  3. 3. How do I identify a proprietary school? • Visit the College Navigator website http://nces.ed.gov/collegenavigator/ • This site is run by the Department of Education and will tell you if a school is: – Public – Private non-profit – Private for-profit 06/22/12www.collegenowgc.org 3
  4. 4. Look up a school and see what the type is. General information: (216) 555-5555 Website: Website address 4-year, primarily associates, private for- Type:   profit Associates degree Awards offered: Bachelors degree Campus setting: City: Large Campus housing: No Number of and type of students (all Student population: undergraduate) Student-to-faculty ratio: ## to 1 06/22/12www.collegenowgc.org 4
  5. 5. Concerns about Proprietary Schools • Fraudulent recruitment • The U.S. Government Accountability Office went undercover at 15 proprietary schools. They found: • Admissions or financial aid representatives at all 15 schools provided “deceptive or otherwise questionable statements” • Video • http://www.gao.gov/products/GAO-10-948T 06/22/12www.collegenowgc.org 5
  6. 6. Concerns about Proprietary Schools • Graduation rates • According to Education Trust, the graduation rates for schools offering bachelor degrees: • Proprietary – 22% • Public – 55% • Private non-profit – 65% 06/22/12www.collegenowgc.org 6
  7. 7. Concerns about Proprietary Schools • Cost • According to Bloomberg, the average cost of attending a four-year college: • Proprietary – $30,900 • Public – $15,600 • Private non-profit - $26,600 06/22/12www.collegenowgc.org 7
  8. 8. Concerns about Proprietary Schools • Student Loan Debt • According to Education Trust, the student loan debt among bachelor’s degree recipients: • Proprietary – $31,190 • Public – $7,960 • Private non-profit - $17,040 06/22/12www.collegenowgc.org 8
  9. 9. Concerns about Proprietary Schools • Default on student loans • Default rates 4 years into repayment, according to the Government Accountability Office : • Proprietary - 23.3% • Public – 9.5% • Private non-profit - 6.5% 06/22/12www.collegenowgc.org 9
  10. 10. Concerns about Proprietary Schools • Here are some of the things that can happen if you default on a student loan: • The government can garnish your wages • The government can take your tax return • You cannot get financial aid to continue your education 06/22/12www.collegenowgc.org 10
  11. 11. Concerns about Proprietary Schools • Employability • According to a study by the Center for Analysis of Postsecondary Education and Employment, graduates from proprietary schools are: • 4.8-6.7% more likely to be unemployed than graduates from public and private non-profit schools 06/22/12www.collegenowgc.org 11
  12. 12. Resources • United States Government Accountability Office – http://www.gao.gov/assets/300/294057.pdf – http://www.gao.gov/assets/130/125197.pdf • The Education Trust – http://www.edtrust.org/dc/press-room/news/broken-promises-for-profit-colleges-fail-our-students • Bloomberg – http://www.bloomberg.com/news/2011-05-26/for-profit-college-costs-surpass-nonprofit-peers-in-u-s- • Center for Analysis of Postsecondary Education and Employment – http://www.frbatlanta.org/documents/news/conferences/11employment_education_demming.pdf 06/22/12www.collegenowgc.org 12
  13. 13. Questions? 06/22/12www.collegenowgc.org www.collegenowgc.org 13
  14. 14. Stacy Watts, Resource Center Coordinator swatts@collegenowgc.org 216-241-5587, ext. 140 06/22/12www.collegenowgc.org www.collegenowgc.org 14

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