BeautyLink - Volume 8, Issue 2 - (Page 19)

HOUSE COMMITTEE ON EDUCATION AND THE WORKFORCE SEEKS SCHOOL FEEDBACK ON ED'S ASSAULT ON FOR-PROFIT SCHOOLS BY MARY LYN HAMMER T op staff members for the U.S. House Committees on Education and the Workforce are seeking feedback from schools about the impact of ED's assault on for-profit schools and have promised anonymity for those schools that speak up. The Committee wants to know how this has affected the schools and their students. For example, has the misleading and false information that all proprietary schools are bad and have poor outcomes affected your FISCAL YEAR FY 2009 Released Sept 2012 FY 2010 Released enrollments? Have inaccurately high default rates that include Conduit/PUT loans that never should have gone into default hurt the school's reputation or your ability to get state funding for students currently attending your institution? Has this inaccurate reporting affected job prospects for students or discouraged them from completing their education at your institution? While there are schools in every sector of higher education that should be under review and increased scrutiny, there are many quality proprietary institutions as proven in numerous available databases through the U.S. Department of Education (ED). Through organized efforts to influence public opinion, ED has used its authority to falsely report information about sector-level performance with a focus on influencing the public into believing that all proprietary schools are predatory and all non-profit schools are good - this is far from the truth found in ED's own databases. You may be Shock-ED by the findings documented in my 213-page investigative report, Injustice for All. # DEFAULTS CDR % NATIONAL iCDR % 2008-2009 LPCP 148,171 21.2% 13.4% 2007-2008 STPP 19,598 27.1% 2009-2010 LPCP 1,294 54.3% ABCP CONDUIT 09-10 26,774 59.8% 2009-2010 LPCP 148,636 18.2% ABCP CONDUIT 09-10 25,433 56.7% ABCP CONDUIT 09-10 14,455 58.6% 238,812 30.4% 3,916 56.0% 11.8% 424,976 15.9% (11.9% correct calculation) U.S. DOE PORTFOLIO (13.5% correct calculation) 14.7% Sept 2013 FY 2011 Released UNREPORTED FDSLP PORTFOLIO 13.7% Sept 2014 FY 2012 Released Sept 2015 ABCP CONDUIT 09-10 UNREPORTED FDSLP PORTFOLIO NOTE: ED miscalculated numerous cohort default rates in its Official National Briefings. We have provided the published rate and the correct calculation. BE AUT YLIN K | F O CUSI NG O N F I NANCI A L S | 20 1 6 | 19

Table of Contents for the Digital Edition of BeautyLink - Volume 8, Issue 2

Message From the AACS President and CEA Chair
Workings of Washington
CEA Gets Amped Up in Vegas
The Bottom Line: What You Should Discuss With Your CP
Revelations About the Department of Education
Do’s and Don’ts of Shopping for Suppliers — It Isn’t Retail Therapy!
And Then There’s Compliance
Students and Money Management
Voices From the Classroom
Superstar Graduate
Beauty Changes Lives
People & Places
New Products & Services
Associate Member Profiles: Financial Services
New School Members
Upcoming 2016 Events
Index to Advertisers

BeautyLink - Volume 8, Issue 2