According to an evaluation report from the Western Association of Schools and Colleges, “Only about 38 percent of Brooks students ever finish the program,” and the average starting salary for all graduates is “less than $11 dollars per hour.”
The admission counselors told 60 Minutes they were expected to enroll three high school graduates a week, regardless of their ability to complete the coursework. And if they didn’t meet those quotas, they were out of a job, which is what the man in sunglasses says happened to him. They all say the pressure produced some very aggressive sales tactics.
“In that way, the job was a lot like a used-car lot, because if I couldn't close you, my boss would come in, try to close you,” says Shannon.
The enrollment fee was $50. “You need three things,” says the man in sunglasses. “You need $50, a pulse, and you’ve got to be able to sign your name. That’s about it.”
You have to sign your name to a government loan form. The government-backed student loans are crucial to the entire industry.
In 2003, they made up nearly 60 percent of CEC’s revenues. And in order to be eligible for that money, CEC is required to provide students with accurate information about job placement.
Would CEC exist if it weren't for government loans?
“I don’t believe that they would be a $1 billion company in 10 years, if it weren’t for the federal government loan programs,” says Tami Hanson, who was once the national manager in charge of student placement for all of Career Education Corporation’s campuses in the United States.
Read the entire article, its just like ITT Tech, except for charging 50 bucks, its 100!
Source: http://www.cbsnews.com/stories/2005/01/ ... 0479.shtml
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