The only reason ECMC aquired Everest was for the non for profit tax protection. For the past 1.5 years they discussed, consistently, taking the organization down to 10 or 12 schools. Get out before there is nothing left.
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What is this 5, 10, 15 schools? As I understand it, there is Everest online and Wyotech left. Who are these other schools? Seems Everest is poorly run and money keeps being spent in feel good software and training. I suspect owned by someone connected to the decision makers so they can skim off the top. Its clear by the way the Assistant Deans handle things, that they want us to just push people through to get a degree and not to really grade anything. The students I keep getting seem to be in their first college class they have ever seen and don't do anything really, except copy from the internet. They must have done this in prior classes as my classes are 2 and 3rd year classes. It seems stupid to ask them to do a good paper, no one else has before. I know the Assistant Deans won't give me any classes unless I just push everyone through, so I do it too.
Admissions has nothing to do with the problems of Everest and WyoTech. The schools have horrible reputations and offer nothing to students. It's hard to compete with the community colleges when they offer the same fields of study for less than half the cost. For the last seven years the Obama administration has demonized the career colleges and the public has finally listened.
Our admissions manager has no clue what She is doing. They only purpose she serves is to make everyone's life miserable. Get out ! No body wants you, you miserable lowlife! Micromanaging "your" department when it can thrive without you! We don't want a failed admissions rep as our leader!
With 1.4 trillion dollars in outstanding student loans and 43% of the loans in default, ECMC will be in business for a long time. ECMC makes over a 1.5 billion dollars a year in commissions for being one of the DOE's Repo companies.
No loans, no ECMC.
Actually only 5 schools will be left. Schools that are self sufficient. However red flags are out there for the remaining 5 schools who are not making their attrition and/or enrollments. How can the schools make it without any new programs coming in which has to go through approval process which schools probably will not get.
As their core business changes, so does their ability to maintain a NP status. The Everest brand helps maintain that status and prevents paying a corporate tax rate.
There are only two ways career schools enroll students, either by predatory advertising or by word of mouth. Zenith is restricted by the DOE from the advertising necessary to increase enrollment and the reputations of Everest and WyoTech are so tarnished that word of mouth will not work. ECMC purchase of the schools was a winning situation for them even if the schools went under. The whole deal was underwriten by the DOE with a way out for ECMC.
1big has it right. One thing he/she left out..... The idea of "taking the organization down to 10-12 schools" is a smokescreen to create false hope and some semblance of motivation/control. while The Plan moves forward. ZEG has done nothing meaningful to increase enrollment in 18 months, and wont start now. You can't shrink your way to greatness. Eventually, all schools will go to teach out and closure in a manner that will preserve students' responsibility to repay loans (getting DOE off the hook) and creating a massive pool of predictable bad debt for ECMC to collect. Disagree? Please submit meaningful evidence to the contrary.
That makes absolutely no sense at all. ECMC is and has been a non-profit organization. Purchasing the CCi schools had nothing to do with what you call "non-profit tax protection", what ever that is. The reason they purchased the schools is to guarantee their contract with the DOE as a delinquent loan collector.