Fail State - documentary about Higher Education for-profit schools

[sanantone]

I believe ITT Tech was charging over $40k for associate's programs.

They were....in the late 1990s/early 2000s.  I talked to one of their enrollment counselors back then about getting their new IT degree.  I noped the F out when they told me the price.

And, I remember that their bachelor's degree programs ranged from $80k to over $90k. Even for independent students, the cap on financial aid is not high enough to cover that much tuition for undergraduate programs. 

It's only $3.99 on Google Play and Youtube...

well, $1 down, 3.99 to go

Hitting on Sanantone's point- it's sooo soooo soooo tricky.  I am 100% on the ball about this stuff, but watching my 3 sons fill out FAFSA and get financial aid packages changes you from thinking that everyone is stupid and not paying attention to understanding how people get duped.

Colleges pitch a "Financial Aid Package" but sometimes students don't realize they are taking out loans.  Colleges do NOT do a great job of separating, and that's not even at the for-profits (I haven't seen a Financial Aid Package from one, but would be interested to).  Anyway, the roll in tuition, fees, LIVING EXPENSES, etc.  and make it "look like" you need X for the school year - sign here.  In order to line item out the loans, they have to rewrite the entire package using just grants, institutional scholarships, work-study, etc.  I watched a financial aid officer roll her eyes at the boy and his mom in front of us because he was asking questions.  (at a community college) it's hard to pinpoint because it's transparent (everything is written in clear English) but there is just something in the process that makes it too easy for kids (and adults) to over-borrow.  I realize fees can be expensive (they are here  in NC anyway) but it's just so slimy.  I think it's the word they use:  "AWARD" like it's a gift - a scholarship- a present. No, an award is none of those things, it's a LOAN.  I honestly don't think it's obvious to everyone.

Edit, I found on Northeastern's website a really good breakdown of the "award" letter as well as a sample. Not sure how to screenshot- but here's the link - it's worth checking out. https://studentfinance.northeastern.edu/...our-award/

The difference between Everest and a community college was that you actually needed to take out tens of thousands just to cover tuition. It was not a cheap career school. I believe ITT Tech was charging over $40k for associate's programs. They charged more than the max someone could get in financial aid, so students signed for high-interest loans directly from the school. 

If a school's tuition for an associate's degree is more expensive than a new car, then run!

$40k???  Crap.

Yeah, and I get that they aren't subsidized like community colleges are, but more traditional private schools tend to graduate their students with much less debt than ITT Tech and many of the other ACICS schools did. When ACICS temporarily lost its recognition, most of their schools went searching for other accreditors. What's interesting is that the other national accreditors determined that some of the ACICS schools didn't meet their standards for accreditation. ACICS is really bottom of the barrel.