We teach not to get rich. We knew this going in. We know this moving forward. We had hopes that zenith would do the right thing for the students this has not happened it's all a dog and pony show. Zenith does not care about faculty which means zenith does not care about its students. Guys at the top are getting theirs. Faculty is carrying the dead weight of very overpaid immoral people while trying to change lives and destroying our lives and careers.
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Faculty want to teach but are forced to pass students who don't deserve to be passed. Student services often sends out "guilt" emails asking faculty to open up assignments from 5 weeks ago to save a student that will be dropped out for lack of good grades.
Faculty want their jobs but they also want to teach - it is a confusing time! We hear DW tell us to hold strong policies, but then are warned about pass rates impacting our ability to keep a job...
Students who drop our or "graduate" retain full loan repayment liability. That is why DOE is reluctant to take drastic action. Students who are at a campus that closes are entitled to loan forgiveness. The unknown is what students might achieve in term of loan forgiveness via litigation. Not an attractive case for contingency-based attorneys (unless damages are awarded) and most students can't afford hourly representation.
Inside sources are saying that ECMC is quietly looking for a buyer for the two WyoTechs. These are the only schools worth anything and they would love to sell them before closing them. If a buyer can be found ECMC can systematically teach out and wind down the few remaining Everest schools. If not they will most likely teach out all schools within the next two years.
@KuLOkbQ-3fdv, sources have told me something similar: that the enrollment numbers have to dwindle enough so that ED is comfortable with the loan forgiveness liability. Beyond the numbers, I wonder if there was a concern at ED about "moral hazard." That is, if a certain number of people did get debt forgiveness that it would give other debtors that idea that they too could have their loans forgiven.
1 fer- The DOE will let this go on until enrolment dwindles to a point that DOE is comfortable with the loan forgiveness liability. DOE is ignoring on-going regulatory infractions to enable the schools to slowly dissolve. It's all part of The Plan.......
The cohort default rate is higher now that ECMC took over the schools than they were when CCi ad them. Also, the placement rates are lower under Zenith than under CCi. I certainly am not trying to defend CCi, but Everest and WyoTech have only gotten worse under Zenith. How long will the DOE let this go on?
Americans not stupid. We will fight to keep our country from becoming third world
If you believe money corrupts, you should go check the lifestyle in Venezuela. Marxism is doing a fine job of feeding people. Americans are stupid, you don't know how good you have it here.
@KuLOkbQ-qkb, I wish Zenith did publish their financials. There are some public data available about the schools. It's limited but telling. Take for example, the student loan NON-REPAYMENT rates at the Everest Colleges (per Pro Publica):
Colorado Springs (CO) 66.5%
Thornton (CO) 70.2%
San Antonio (TX) 80.2%
Tacoma (WA) 57%
Norcross (GA) 71.4%
Chesapeake (VA) 79%
Woodbridge (VA) 42.5%
Austin (TX) 75.4%
Houston-Hobby (TX) 80.2%
Houston-Bissonnet (TX) 68.7%
Fort Worth (TX) 67.4%
Arlington (TX) 77.1%
Henderson (NV) 75.2%
South Plainfield (NJ) 75.4% (error?)
Southfield (MI) 75.4% (error?)
Atlanta-West (GA) 65.3%
Tampa (FL) 72.5%
Orange Park (FL) 72.5%
For the number of "Pell eligible" student debtors, the NON-REPAYMENT rates are slightly worse.
OP - You just figured this out?
Can't get a job at McDonalds because that's where all the Everest and WyoTech graduates are working.
I need to say something as I have been on this site several times through the last 2 years. IT IS VERY SAD that people who share their hearts about a company that is DOING THE WRONG THING gets answers like "go get a job at McDonald."
Zenith has done the WRONG THING FOR STAFF AND STUDENTS ever since they purchased Corinthian.
Money corrupts for sure.
Leave, go find another job. Get out. Shut up. Get a job at McDonald's where you belong.
Does Zenith publish its financials? My guess is that its administrative expenses are way out of balance with what is spent in the classroom, compared to quality institutions. Draft gainful employment data has been shared with schools. In the interest of their stated transparency, Zenith should tell us all what it shows.