Regional Colleges Lose State Financial Aid
At least a dozen private colleges in the Sacramento area, most of them trade schools operated for profit, are among 154 statewide whose students will lose their eligibility to receive state financial aid this fall.
Jack Robinson, Editor, Sacramento Business Journal , Aug 2, 2012
The California Student Aid Commission on Tuesday issued a list of colleges that do not meet newly tightened requirements. In order to receive so-called Cal Grants, they must transfer to an eligible school.
Under new rules, colleges may not have student-loan default rates above 15.5 percent or graduation rates below 30 percent.
All public colleges and most private nonprofit colleges in the state remain eligible. Some for-profit schools also remain eligible, including Alliant International University and Universal Technical Institute, which have Sacramento campuses. The Art Institute of California's Sacramento campus also remains eligible.
Colleges on the ineligible list include University of Phoenix, a vast enterprise based in Phoenix with campuses across the nation, including Sacramento, Elk Grove and Roseville. Overall, the school had a default rate of 21.2 percent and a graduation rate of 18 percent, the commission said.
More information is available from the California Student Aid Commission here: http://www.bizjournals.com/sacramento/news/2012/08/02/local-colleges-lose-state-financial-aid.html