Aug. 17 (Bloomberg) -- Harris Miller, president of the Career College Association, talks about student-loan trends at for-profit colleges.
Colleges owned by Career Education Corp., Corinthian Colleges Inc. and Washington Post Co. have campuses where fewer than 20 percent of federal student loans are being repaid. The U.S. Department of Education wants to use the data to determine whether programs can remain eligible for aid. Miller speaks on Bloomberg Television's "In the Loop With Betty Liu." (Source: Bloomberg.
Secular Human worked for three 'for-profit' schools and the biggest one did not take job placement seriously at all. Accordingly, the students who graduated ended up with a worthless degree and they had to find work in a different career field.
A lot of nursing assistants and LPNs got through these schools and do not receive appropriate training. Students also have trouble transferring credits to public universities because of the lax academic standards.
With 80 per cent of the 'for profit' student loans in default, the Federal government is essentially subsidizing 'for profit' schools which is a waste of tax payer money.
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