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Education Lab Blog

Education Lab is a yearlong project to spark meaningful conversations about education solutions in the Pacific Northwest.

Topic: for-profit colleges

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August 25, 2014 at 5:00 AM

Is your college financially stable?

Michael Osbun / Op Art

Michael Osbun / Op Art

Earlier this year, the six Washington campuses of Everest College, a for-profit school,  were put up for sale after the parent company ran into financial and legal hot water.

That raises interesting questions for students: How do you know if your college is financially sound? And should you be worried if it isn’t?

The Hechinger Report, a nonprofit education news site out of New York, recently suggested five steps you can take to make sure the college you’re attending is financially solid. (The issue applies to nonprofit and for-profit schools, since public colleges and universities aren’t going to run into the kinds of financial problems that would force a closure unless the state itself runs out of money.)

It’s worth paying attention to the financial soundness of your school because, as the Hechinger Report notes, students attending a college that abruptly closes must find another place to continue their education, and they may find it difficult to get credit for the classes they took at the closing school. It can also be challenging to transfer student loan paperwork. And a shuttered college will likely be diminished in the eyes of employers.

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Comments | More in News | Topics: Corinthian Colleges, for-profit colleges, higher ed

July 16, 2014 at 2:59 PM

Your voices: Students talk about experiences with for-profit colleges

Ashley Kyle of Everett said she found her pharmacy-tech teacher lacking and taught herself. Photo by Ken Lambert / The Seattle Times.

Ashley Kyle of Everett said she found her pharmacy-tech teacher lacking and taught herself. Photo by Ken Lambert / The Seattle Times.

Corrected version

Education Lab recently asked readers to share their experiences — positive or negative — with for-profit colleges and universities.

The request was tied to news that Corinthian Colleges, which operates a handful of Washington schools under the name Everest College, was under investigation from the U.S. Department of Education.

Since then, the two parties have reached an agreement that calls for Corinthian to put 85 of its campuses, including schools in Everett, Seattle, Bremerton, Tacoma, Renton and Vancouver, up for sale.

Several current and former students wrote to us saying Everest had misrepresented their chances of finding a job after graduation. One Everest student, Ashley Kyle, wrote in to say the school did little to help her prepare for the national pharmacy-technician exam. “They took advantage of me being really naive,” said Kyle, who will be paying $300 a month in student loans for the next 10 years.

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Comments | More in Opinion, Your voices | Topics: for-profit colleges, higher ed

July 7, 2014 at 2:53 PM

Chart: Here are the default rates for every college in the state

As The Times reported last week, six for-profit colleges in Western Washington are likely to close amid allegations that the schools prey on low-income students and falsify job-placement statistics. Corinthian Colleges, a California-based company that operates locally under the name Everest, also caught the attention of state and federal investigators because of its plummeting enrollment and high student-loan-default rate.

To go along with the story, we compiled a comprehensive, interactive chart that shows the three-year default rate and financial-aid breakdown between loans and grants for every public, private and for-profit college in Washington state.

Screen shot of a chart by Michael Mott. Follow the links below to access the database.

Screen shot of a chart by Michael Mott. Follow the link below to access the database.

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Comments | More in News | Topics: for-profit colleges, higher ed