Wait is almost over.
DOE is pulling the plug...
19 replies (most recent on top)
@irxw
"Blahh blah blahhh more empty threats from a true group of unorganized clowns to stupid to realize their degrees in fashion design would only bank them a 30k.... waaaa waaa waaa bring the wambulance to your organized group of cry babies."
SAYS THE LOSER WHO POSSESS NO REAL LIFE SKILL OTHER THAN STEAL!!!
@K3t2Pga-1eax... I'm going to take your comma key away if you don't learn to use it more responsibly!
@irxw,
No. it's about setting up a system of elaborate Potemkin villages under the guise of giving an educational leg up to those who needed it most, Minorities, atypical older students, the left out, ,whatever. This in itself was a noble gesture and had the initial promise of providing the democratization of education. But it was a wolf in sheep's clothing play
But over the years with tuition inflation and the extremely sub-par graduation and retention rates this notion was belied by the reality that the business plan was shortsighted and eventually based on nothing more than EDMC acting as conduit for the facilitation of creating a loan mill factory.
You can hardly blame those who are not used to the ways of this complex world to have fallen for the ruse, How adept was your business acumen at 18 or even 83? Ask this question of Bernie Madoff and he'll give you the skinny on human nature as well as the many who used to live in Palm Beach.
So Neophyte students do believe, or used to believe, that those in post secondary education have traditionally had their best interests at heart. Unfortunately something went terribly wrong. And I think what happened has a lot to do with human nature. Very often something happened, call it greed or whatever, that has overridden the ideal purpose of any school. That is if you turn out a quality product at a competitive price and at respectable graduation and retention rates, your reputation will precede you. If not, it's an impossible catch-up game once the word is out. The fruit of this bountiful tree called the student population is not infinite as you know.
Accordingly, we are all to be evaluated, at least on a yearly basis, and if we excel and do our jobs diligently, honestly and with no malice aforethought, well, there is no reason to whine and complain. Conversely, if the stats in black and white indicate otherwise, in business, who is to blame but the fates and those who may have been so myopic to let the primary objective of education fall by the wayside.
So if we all earnestly strive to do our best, honestly and without deception, it would be reasonable to expect to reap the rewards. If not, is it reasonable to blame those who used to fill your treasury for making better educational decisions going forward and heralding the slow attrition of employees who used to be true believers.
Blahh blah blahhh more empty threats from a true group of unorganized clowns to stupid to realize their degrees in fashion design would only bank them a 30k.... waaaa waaa waaa bring the wambulance to your organized group of cry babies.
How dare some of you involved with EDMC ask for compassion when you were all in on the scam! Do you realize how many young financial jobs you've ruined!!! The stories are real! People are desperate! They complied 100% with all of Ai's demands til the end and you intentionally shackled them to a lifetime of debt with no way out and nothing to show!
You have underestimated the intelligence of the students you've scammed! They have mobilized and have become an unstoppable force! Even if you come up with shiny new logo, fresh coat of paint and a snazzy new catch phrase, we will not stop until you are all out of work and the doors to everything EDMC are nailed shut!!! The word is out and the public is aware of for-profit fraud!
Does gainful employment mean Craigslist?
How many students were awarded the grant and then had it taken away?
@hny is incorrect "It means they have to get viable jobs in ones degree focus." Gainful employment does not require that students have jobs in their degree focus. It's entirely about debt-to-income ratio, and their income can come from anywhere.
@efm is correct - by lowering tuition they can lower the debt that students graduate with, so if they're not making much when they graduate, the answer is to lower the cost of their education. The problem they're facing though is that the gainful employment stats are retroactive, so they'll be held to recent graduates' debt and incomes. That was the reason for all the Art Grant stuff with the Art Institutes over the last couple years - they knew gainful employment was coming and were trying hard to reduce students' tuition debt while incentivizing them to come to school. The max students could earn from Art Grant was specifically set to the ideal amount of tuition/debt to meet gainful employment. It didn't quite achieve what they were hoping, so there will be a lot of programs across the system that will be on warning, and they'll need to improve (significantly reduce tuition/debt, because salaries won't go up) to avoid being barred from enrolling new students in them.
I didn't know people still smoked Angel dust!!!
If the tuition is low enough then a student getting a degree from Ai and having a minimum wage job would show that their income is at least enough to make the payment on their loans. Therefore lowering tuition costs is the only way they can remain a viable institution and meet the gainful employment statistics and avoid the DTR clause that states a students monthly payment cannot be more than 10% of their discretionary income.
Make tuition low enough and students will only be required to make small payments based on the IBR plan offered by federal financial aid. However, this just means more cuts for EDMC.
How does lowering tuition meet gainful employment???
It means they have to get viable jobs in ones degree focus.
This will give a new meaning to term "Black Friday"!
The purpose of this site is not to protect fraud and warn you of the writing on the wall.
Go back to the home page and reread what this site stated as it's purpose.
Don't worry y'all... just lying!
Just your friendly neighborhood Spider-Man.
DOE would love to keep funding EDMC and its illustrious "product"!
to - in what way?? Or you out of your mind?? Colleges worried???? You should have gotten that clue about 5 years ago. If you are still at an Ai - you are borrowed time my friend. Please get real - this ship sailed and when KKR bleeds it dry - you will be out. If you have not been applying for jobs - that is just plain stupid on your end.
None of that matters anymore and none of them will win with Social Media, IamAI, the Debt Collective and the DOE new rules for Defense to Repayment of student loans coming soon. If tomorrow the Dept of ED (DOE) finally decided to do what they should've done last year during the lawsuit and revoke Title IV Federal Aid from ALL EDMC schools they would fall faster than ITT tech and I have feeling they might do that after the new rules on Defense to Repayment are published.
These for-profit rip off schools can lower their tuition, change the curriculum, change their image, spend more on BS ads, change whatever they want and they will still be wolves in sheep's clothing. The end is near for all of them and they are all hanging on by a thread. The jig is up and the public knows that all these for-profit schools only care about stealing Federal Aid and putting students in a lifetime of debt for a worthless degree. Since the education provided by these for-profit schools is now considered illegitimate in the public eye a lot of company's don't even consider anyone who has the school's name on their resume for a job regardless of current/past years of work experience. All the kids looking at college now are aware of the for-profit scam schools which is a big reason enrollment is down. The only reason these schools are currently running is with the help of federal aid, current students who realize the schools are BS but they either want to finish their degrees since they are so close with so much in debt or have no idea what to do, and then the others who are in denial of everything that is going on who still believe the BS the schools are telling them.
Once the new rules for DTR are published on November 1st by the DOE depending on what those rules include, I have a feeling that EDMC will start closing down a lot of schools if not all of them before the end of the year. Everything will be sold off and they will be closed for good if the DOE steps up which I think they will because of all the outrage and media attention. Plus there is a growing number of students who are going to bring a nationwide class action lawsuit against EDMC schools. Our voices will be heard, we will not go quietly into the night, we will not accept defeat, and we will have justice one way or another regardless if these schools remain open or not.
The initial poster makes an inflammatory claim with no facts or usable information. Unkind to those of us worrying about our jobs and our colleagues. (the name/purpose of this web site is Layoffs / information relevant to those who work for AI and the other schools, not a site for poking at people who are already worried. (hitting people when they are already down because of bitterness or straight out meanness).
Yes, the schools have questionable practices. But, yes, pretty much all of higher ed has questionable practices. Some programs are greatly respected (culinary, health sciences, including radiology techs), some are not so great (animation, criminal justice). Same programs are offered at many technical or community colleges.
Please, facts are good. Everything else just wastes everyone's time for the poster's vanity.
He doesn't have any.... DOE isn't doing anything..... School is going to lower tuition costs just like UOP to meet gainful employment standards.... downsize further to help reduce costs.... pray to win the appeal....
Proof?