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‘Moving on up’ Like George and Weezy Jefferson: A College Degree and the American Dream

The blog was originally posted on The Equity Line

 

If you work hard and follow the rules, you too can “move on up” from a working class neighborhood in Queens to a deluxe apartment in the skyline of Manhattan’s Eastside, just like The Jeffersons.

At least that’s how the story goes.

But findings from a new report show that story is unlikely

Student Stories: The Devastating Impact of Some For-Profits

The post and video below are from CNNMoney

Students across the country are shelling out tens of thousands of dollars for degrees that end up being completely worthless.

Students of Color Need a Strong Gainful Rule, According to New Analysis

It is a well-known fact that many for-profit colleges fail to live up to their end of the deal with students. These for-profits lure students into enrolling with the promise of landing a high-paying job after they graduate. But come graduation — or for the many who leave without finishing — all a lot of students are left with is a mountain of debt. Oftentimes for-profits’ primary interest is to bring in the federal financial aid dollars students receive — like those from Pell Grants, federal student loan dollars, and veterans benefits — while educating students becomes secondary or worse. This is particularly worrisome for African American and Latino students who make up 21 percent of total postsecondary enrollment, yet they represent 41 percent of students at for-profit institutions.

Many For-Profit College Companies Deliver Broken Promises and Failed Dreams

If you watch daytime or late-night TV, you’ve seen the slick, 30-second commercials that promise down-on-their-luck viewers a fairy godmother-like solution – a quick, affordable, college-level education that provides hands-on experience and positions students to land their dream job. If you want proof of the quality of these career education programs, the commercials continue, look no further than the myriad of success stories of their graduates.

Yesterday’s Boston Globe article, “For-profit colleges get harsh grades by former students: Graduates complain of onerous debt, unmet promises about careers,” paints a more realistic story of what actually happens to former students of these schools, such as:

Don’t Understate What Low-Income Students Pay for College

Recent news reports have implied that elite colleges are a bargain for low-income students — that the financial aid awarded to them reduces the total price to a manageable amount, even for our nation’s poorest students.

But these reports have missed one crucial point...

Where in the Pell Are They? U.Va. Can Be Selective Without Being Exclusive

High-achieving students from low-income backgrounds aren’t fictitious characters from the Game of Thrones HBO series; they exist — and in much larger numbers than many elite institutions would have you believe. Too many of these institutions rely on their selective admissions requirements to explain why so few low-income students enroll in their college.

In fact, at a symposium we co-hosted this month in Charlottesville, Va., a senior administrator at the University of Virginia used this excuse while attempting to explain why Pell Grant recipients make up only 12 percent of undergraduates, even though about 42 percent of 18- to 24-year-olds without a college degree in the Commonwealth are from low-income or working-class family backgrounds.

Continue to Put Pressure on the Department of Education for a Strong Gainful Rule

With the public comment period for the proposed “gainful employment” regulations long closed, we have time to look back at what we’ve accomplished and see what work is still to be done.

With the help of borrowers, students, parents, and advocates from around the country, tens of thousands of comments were submitted to the U.S. Department of Education urging them to issue a stronger final “gainful employment” rule.

Burned by a Career-Ed Program: Real and Raw Student Stories

The U.S. Department of Education plans to release its final "gainful employment" rule in October 2014. The draft rule, circulated by the department earlier this year, proposed cutting off access to federal financial aid for career-education programs (many of which are at for-profit colleges) whose graduates have high student loan default rates or high levels of student loan debt relative to their incomes. It is essential that the department adopt a final rule with strong protections for students.

During the month of May we asked students to submit their stories as public comments on the department’s draft “gainful employment” rule. Many of the student victims who have been exploited and defrauded by career-education programs offered compelling evidence of the need for stronger protections. Here’s what some of them had to say:

Low-Income Students Deserve a Real ‘CHANCE’ at Affordable College

Each year millions of Americans depend on Pell Grants to help make college affordable. Research has shown that need-based grant aid, like Pell Grants, increases college enrollment among low- and moderate-income students. But with college costs skyrocketing over the last three decades, Pell Grants have lost much of their purchasing power. In the 1980s, Pell Grants covered 77 percent of the cost of college at a four-year public college for low-income students. Today that share has dropped significantly to only 31 percent of the cost.

Rep. Jared Polis Joins #AccessMeans Chat on Federal Solutions to College Affordability Crisis

Last week, I AM NOT A LOAN hosted its third #AccessMeans Twitter chat, with special guest Rep. Jared Polis (D-Colo.), to talk about how federal policy shapes what college #AccessMeans. Students and advocates had a chance to share their stories and ask Polis about federal solutions to the college affordability crisis.