Monday, February 6, 2012

Cal Grants - almost half of for-profit colleges booted

Students didn't pay back loans.

San Francisco Chronicle/Nanette Asimov, 2/6/12.  "Some for-profit colleges booted from Cal Grants."

"A little-known California law has dealt a blow to nearly half of the for-profit college campuses in the state, barring them from offering students a coveted Cal Grant this year. 

Image:Handshake 7811.jpg
Good luck, get a good paying job.
The law cracks down for the first time on schools with high student loan default rates, meaning graduates aren't paying back the money they owe even three years after leaving school."It's a sign that the institution did not prepare them for a job so they could repay their loan," said Robert Shireman, who, as deputy undersecretary of education in the Obama administration, oversaw reforms in student lending.

Now, California is tying participation in the Cal Grant program to colleges' three-year student loan default rates. No public campuses are affected by the law, SB70, because none has the toxic combination of a high percentage of borrowers where at least 1 in 4 defaults." Read more. 

Reference: 'How to pay off student loans", Wiki How manual, 7 steps, includes video (2:20 minutes).

Posted by Kathy Meeh

7 comments:

Anonymous said...

This has nothing to do with Pacifica.

Anonymous said...

Further signs of the real belt-tightening going on in CA. The Guv is serious.

Larry said...

Ah, we're in a financial crisis in this city. Wouldn't it be prudent to keep the discussion focused?
Ya think!

Anonymous said...

Kathy refuses to recognize the title of the blog and prefers to match "wits" with tea baggers, anon 6:16.

Kathy Meeh said...

"This has nothing to do with Pacifica." Anon (616), I think you're the same person who posts this same repeated insular comment.

This Cal Grants article has everything to do with people in Pacifica (or elsewhere) who are looking for general college education, or college training programs.

Anyhow aren't you tired of whining about the same perceived city deficiencies yet? Same stuff, "hamster in a cage", round and round. Looks like a lopsided write-in campaign.

Broader-view county and regional articles are waiting in the blog cue for posting. Its time to move forward until fresh "Pacifica" information (bate) is available.

If you have articles "all about the woes or joys of Pacifica", or announcements, please send them to the blog email for posting. Instructions are listed on the blog upper left. Thankfully Steve will receive these. I'd like to see more articles from YOU!

And, Larry Anon (722), you want to talk about the city financial crisis which has occurred over 10 years and will continue from now, through the city budget meetings (April, May, June), and beyond for years to come? Enjoy! Nothing is stopping you from doing just that. Financial articles exist (scroll down), or submit your own favorite articles, or wait for new related articles.

Anon (616), I doubt people who are affiliated with the Tea Party much like your sniping anonymous insult.

Anonymous said...

oh wow, so is public schools next? state and uc's? since college students are unable to pay back their tax payer funded loans and can't find a job. I guess for profit and not for profit colleges are one big cluster f@##!

Hutch said...

Ignore the peanut.... gallery Kathy