The Kept-Up Academic Librarian: California Cracks Down On For-Profits With High Student Loan Default Rates

February 09, 2012

California Cracks Down On For-Profits With High Student Loan Default Rates

A little-known California law has dealt a blow to nearly half of the for-profit college campuses in the state, barring them from offering students a coveted Cal Grant this year. The law cracks down for the first time on schools with high student loan default rates, meaning graduates aren't paying back the money they owe even three years after leaving school. Now, California is tying participation in the Cal Grant program to colleges' three-year student loan default rates. Read more at:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/02/05/BAU11N1V83.DTL#ixzz1liIPkQJi

Feb 9, 2012 1:52:00 AM | Financial Aid/Loans, For Profit Higher Education

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