Adtalem was the largest recipient of Federal Perkins Loans in 2015, getting $18M from the US government. What happened to all that money? And now that this flow of cash is removed, where is the difference being made up?
https://www.forbes.com/sites/prestoncooper2/2017/09/11/let-it-go-perkins-loans-should-expire/2/#d77dbb7f37db
The borrowers are paying it back? From the job they could have gotten without the stellar schooling?
Hey Camden - you saw this, right? https://www.insidehighered.com/blogs/confessions-community-college-dean/fail-state
Wrong again! The cohort rate is like 11% which is better than a lot of other schools with less students. And where’s the cash? The borrowers are paying it back you moron!
Add this Perkins mess to the 5-year cohort default rate (CDR) of 43% and a -4% payback of principle after 5 years, and you have a disaster.
https://www.brookings.edu/wp-content/uploads/2016/07/ConferenceDraft_LooneyYannelis_StudentLoanDefaults.pdf