Sanford-Brown College is CLOSING its doors FOR GOOD
Qualify Now For Loan Forgiveness Due To The ClosureAnother for-profit closes…
Sanford-Brown College announced in early May of this year that it will close or sell all of its campuses. Sanford-Brown has been subject to controversy over the last few years, with several lawsuits alleging that the college engaged in aggressive and misleading recruiting tactics. Sanford-Brown is owned by Career Education Corporation (CEC), which also owns a host of for-profit colleges.
In a statement about the sale and closures, CEC indicated its plans to focus its resources and attention on its universities “ Colorado Technical and American InterContinental “ where the company has significant opportunities to continue to provide quality higher education to the adult student market.
As of today, July 7, 2015, students who are enrolled in any of the Sanford-Brown colleges or institutes will suffer the most, because their college is up in flames. In addition to not being able to procure a quality education, their financial health could be at risk.
Once again, another for-profit educational institution has learned nothing about how their nefarious practices impact students lives, financially or from an educational standpoint.
Lets break this down and discuss what Sanford-Brown school closures mean for students
Career Education Corporation’s latest press release demonstrates their poor agenda and inability to assume responsibility for students past and present.
CEC has announced a new strategy geared towards their regional accredited universities, such as Colorado Technical University and American InterContinental University.
The press release stated they will minimize the potential negative impacts on faculty, students and staff members. A teach-out process of Sanford-Brown’s physical campuses and online programs are slated to commence immediately at over 14 different Sanford-Brown colleges, including their online program. A teach-out is a situation in which no new students may be enrolled in a course of study, and arrangements are put in place to ensure that currently enrolled students can either complete their course of study or transition to a mutually agreed upon course.
The teach-out process still leaves much to be desired. The process will take anywhere from 1-3 years. In this time, students will attend a school they know is ready to close, which presents potentially negative connotations for prospective employers seeing the Sanford-Brown name on a degree. Moreover, if a student wishes to continue their education elsewhere, how are they going to be able to transfer to another college and ensure their credits are transferable? Students graduating this year might not be impacted, but what about students who recently enrolled? Among other issues, this is a nightmare for students.
If the teach-out process concludes in 12-14 months or less, many students will be forced out with a partial education. In order to earn their degree, where are they going to go? Again, will their credits be transferable? Will their student loans held by Stanford Brown impede their ability to seek out additional loans for a new college? The average cost of debt for a four-year degree at Sanford-Brown college costs anywhere from 60-90K! Second tier universities cost that much. State universities and public colleges are a fraction of that cost.
For graduates, finding gainful employment in their chosen profession could be impossible due to the fact that their diploma isnt highly regarded by potential employers. Students who are still in the process of completing their degree are stuck with massive amounts of debt, a sub-par education and potentially nowhere to finish their education. Its a mess.
Find out what you can do to get ahead of this situation and change your educational future. Call Sanford-Brown and demand answers regarding your existing diploma, getting a diploma and if your credits are transferable. Gather as much information about your loans as possible.
There is some good news for former students from Sanford-Brown however. Under the Obama Administration, the Department of Education has made several forgiveness programs available. Students from Sanford-Brown have exceptionally high acceptance rates to these programs. To find out if you qualify for loan forgiveness, give us a call at (800) 940-8911 or fill out the quick form on this page and one of our representatives will get in touch with you to go over your options.