Stratford University in hot water
Under the Obama Administration, the Department of Education has been very hard on for-profit colleges. The tough new regulations have some of these for-profit colleges in hot water. One of these institutions is Stratford University based out of Virginia. Their campuses are located in Alexandria, VA, Baltimore, MD, Falls Church, VA, Newport News, VA, Glen Allen, VA, Virginia Beach, VA, Woodbridge, VA and New Delhi, India and an online program. Stratford University has academic studies focused in business, culinary arts, hospitality, computer sciences and health sciences.
However, as most for-profit colleges who are more about money than their students, they only have a graduation rate of 8% considering the exceedingly high tuition rate of $24,600 annually, yet 13.8% of the students that have dealt with Stratford University are now in loan default. Stratford Universities tuition is higher than what federal loans generally cover, forcing many students to take out private loans from the school. These private loans known as “Genesis Loans” have rates that can climb higher than 16% – while the interest on a federal loan is generally between 3-4%.