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‘Gap Loans’ at For-Profit Colleges Escape Proposed Legislation
27 October 09 12:47 PM | Student Loan Girl | 0 Comments   

While acting last Thursday to approve the creation of a Consumer Financial Protection Agency, which will expand federal oversight of private student loans, a Congressional panel at the same time voted to reject a proposal that would have included school-sponsored “gap loans” under the authority of the new CFPA. Read More...

Filed under: Barney Frank, Career Education Corporation, college loans, Consumer Financial Protection Agency, Consumer Financial Protection Agency Act, Corinthian Colleges, Deanne Loonin, Education Sector, federal student loans, FinAid, FinAid.org, financial aid, for-profit colleges, gap financing, gap funding, gap loans, H.R. 3126, H.R. 4137, Higher Education Act, Higher Education Act Reauthorization, Higher Education Opportunity Act, Institute for College Access and Success, ITT Tech, Jeff Silber, Justin Pope, Lauren Asher, Mark Kantrowitz, Maxine Waters, National Consumer Law Center, NextStudent, private student loans, proprietary colleges, student loan defaults, student loan lawsuits, Student Loan Legislation, student loans, TICAS, TILA, Truth in Lending Act, Westwood Colleges

Enrollment Up at For-Profit Colleges Despite Economy
16 December 08 10:30 AM | Student Loan Girl | 0 Comments   

While numerous nonprofit colleges have halted construction and are undergoing hiring freezes and other cutbacks due to the declining economy, for-profit colleges are seeing higher enrollment numbers and higher profit margins (“ Economic Downturn Is a Read More...

Filed under: California State University system, Career College Association, Chronicle of Higher Education, college, college financial aid, college graduate, college loans, Corinthian Colleges, cutbacks, declining economy, direct lending, economic downturn, enrollment, enrollment cap, federal grants, financial aid, financial aid policies, for profit colleges, Goldie Blumenstyk, growth, higher enrollment, hiring freezes, job search, job seeking graduates, laid off workers, new job skills, new students, NextStudent, nonprofit colleges, paying for college, private schools, profit margins, projected unemployment rate, public schools, publicly traded college, Rene Champagne, state budget cuts, student loans, subsidized student loans, tuition, unemployment, unsubsidized private loans, widespread layoffs

Shares of Corinthian Colleges Stock Take Nosedive Over Student Loan Defaults
28 August 08 06:56 PM | Student Loan Girl | 0 Comments   

Despite an 11.5-percent boost in student enrollment and an 18.3-percent growth in revenue over the last quarter, Corinthian Colleges saw its shares tumble in afternoon NASDAQ trading on Tuesday, amid investor fears of rising defaults on the school network’s student loans. Read More...

Filed under: Bloomberg, BMO Capital Markets, career colleges, CLC, college, College Loan Corp, college loans, Corinthian Colleges, credit crisis, default rates, financial aid, Forbes, Jack Massimino, Jeffrey Silber, Kenneth Ord, NextStudent, paying for college, private student loans, Ruthie Ackerman, Sallie Mae, stock values, student loan availability, student loan defaults, Student Loan Express, student loans, subprime, subprime mortgage crisis fallout, trade schools

Trade School Students No Longer Protected Under California Law
07 July 08 04:50 PM | Student Loan Girl | 0 Comments   

California students at for-profit colleges now have fewer legal rights if their institution goes out of business. The state law that regulated for-profit colleges, which enroll some 400,000 students, expired at the end of June and lawmakers recently rejected Read More...

Filed under: Arnold Schwarzenegger, California, California Association of Private Postsecondary Schools, Chronicle of Higher Education, college loans, Corinthian Colleges, financial aid, for-profit colleges, Governor Arnold Schwarzenegger, Los Angeles Times, NextStudent, student loans, trade schools, tuition

Financial Industry Woes Affecting Commercial Education
10 March 08 07:02 AM | Student Loan Girl | 0 Comments   

The current credit crisis, combined with recent legislation cutting federal subsidy payments to student loan companies that make federally guaranteed student loans, has begun to take a noticeable toll on commercial education companies. The past few months Read More...

Filed under: borrowers, Career Education Corporation, college, commercial education, community college, Corinthian Colleges, credit crisis, credit crunch, Credit History, credit requirements, economy, Fed, Federal Reserve, financing, income, ITT, ITT Tech, Jonathan Glater, Michael Dannenberg, New America Foundation, New York Times, NextStudent, private student loans, risk, student loan companies, student loans, subprime, tuition