Department of Education – Frazao

At community colleges across America there’s an opportunity for an education without the high price tag of many four year colleges. But a new report finds many schools seem to have little incentive to make sure their students suceed. The taxpayer watchdog group Open The Books the 50 lowest preforming junior and community colleges received more than $920 million in student loans and grants. And the ten that received the most federal funding had just a 12 percent average graduation rate. If they’re not graduating, then they’re saddled with excessive long term debts. For not only the students, but also their families, and so that’s why these institutions need to do a better job on their core mission of graduating students. Adam Andrzejewski is the founder and CEO of Open The Books, and said he was shocked to discover the lack of oversight of these schools. And a lot of the money is also going to for profit universities, places like University of Phoenix, Strayer University, and Ashford University. All with graduation rates under 30 percent. And millions more going to non traditional places like seminaries, beauty schools, and bar tending academies. The sheer amount of taxpayer public assistance going into these schools is actually driving up the cost of higher education. The Department of Education declined our request for an interview. But in a statement said the new rules will allow students to work at their own pace, and earn a credential more closely aligned with employer’s job requirements. With Americans now saddled with more student loan debt then auto or credit card debt. Critics worry the new rules will mean many schools graduation rates may drop even more. In Washington, I’m Kristine Frazao.

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