Profit College Contends with Student Loan
Kaplan has grown to about 1,200 students in Maine. They question whether for-profit schools, where tuition costs are somewhere between private, nonprofit schools and public universities, rewarding students’ investment. In Maine, 18 percent of students at Kaplan, who bought several years ago, Andover College, were unable to repay their loans in 2008, according to Federal Ministry of Education. Compare this with a state average of just under seven percent. Kaplan University President Chris Quinn says he recognizes that his school the standard rate look good. Nationally, Kaplan students represent 26 percent of the recipients of federal loan dollars and 43 percent of the defaulters.
According to Hartle, the federal government also wants states to a greater supervisory role in ensuring that for-profit schools are good actors. But only a bill of this term comes close to an appeal to a greater transparency of the for-profit schools. Senator Justin Alfond is sponsoring a bill that would require post-secondary schools of all types of graduation and retention rates provided to the state for distribution to prospective students. Republican state representative David Richardson of Caramel, who co-chairs of the legislature’s education committee, said he is open to Bill Alfond and learn more about for-profit schools.