Edmc priced themselves out of the numbers game.
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And they can't reduce the cost of tuition as a for profit due to the 90/10 rule. If you're not familiar with it, for profits cannot gain more than 90% of their revenue from federal aid, hence the art grant instead of simply decreasing tuition.
1pgy, those numbers are grim! Looks like the not for profit option is a no go then. If I understand correctly they retained the brand names? This may have contributed to the failure. The demographic for profits target seems to have grown pretty weary. You can't fight negative publicity and word of mouth.
ECMC tried that with the Corinthian schools under the name of Zenith Education Group. It didn't work, they've closed two thirds of the schools and terminated over seventy-five percent of the employees. EDMC can lower tuition but the students won't come. The career school industry is dying a slow death and is being expedited by the DOE. Corinthian Colleges enrolled over 80 thousand students in their hay day and now Zenith is down to around 1800.
When are you hacks going to get it! IT'S OVER!!! Your get rich quick Ponze scheme has failed! Greed was behind the wheel and now this is where the gravy train tracks end! The public is fully aware of your scam and are avoiding for-profits schools at all costs! There is a collective of defrauded students that have gained irreversible momentum and will expose your new scheme at every turn! They are a force to be reckoned with and will not stop until every single door is nailed shut! EDMC schools are the 99¢ ONLY Stores of higher education! You are a joke! There is no rebounding from this!
Are you minions got played by the shareholders. Staff, teachers, students, parents, taxpayers!
Stop drinking the Kool-Aid… Wrong. Don't worry will make sure to get keep future students and parents informed!🖕🏼