You’ve seen the commercials. They’re full of success stories about students who went from difficult circumstances to a new life thanks to study at a for-profit “college”. But the reality is something entirely different. Recruiters would sign up people totally unsuited just to meet quotas. If a student stopped attending online classes, the recruiters would log on for them just to be able to claim them on their numbers. The students would then be billed for classes they never attended while the “college” would report them as attending and collect government grant money. And if you wondered if the job placement numbers were inflated, rest assured they were.
Corinthian, owners of Everest Institute, shut down all of its locations at the end of last week including all of the Rochester locations. Students left in the lurch are hoping to get their student loan debts forgiven. The other major local for-profit, Bryant & Stratton, is under federal scrutiny but appears to be in somewhat better shape than Corinthian.