Welcome! Login | Register
 

Side of the Rhode: Who’s Hot and Who’s Not?—Who's Hot? Who's Not? Find out here

Friday Financial Five: November 28th, 2014—It’s a busy time for the economic calendar

REPORT: PawSox To Be Sold To Some Red Sox Owners—Pawtucket Red Sox to be sold according to…

Finneran: Lord, For These Many Things I Am Grateful—Americans need Thanksgiving

5 Live Music Musts - November 28, 2014—We continue to offer thanks to local venues…

10 Recipes for Thanksgiving Leftovers—Thanksgiving is over and you are still left…

Providence Plays Host To 2014 North American Bridge Championship—Bridge Championship being held in Providence

Happy Thanksgiving Rhode Island—This holiday season, be sure to give love,…

25 Ways to Give in RI this Holiday Season—The holidays are a time of giving -…

Carol Anne Costa: Giving Thanks—Like so many traditions, the day Americans set…

 
 

NEW: For-Profit College Closes in RI

Wednesday, January 02, 2013

 

A for-profit college with one of the highest loan default rates in the state has abruptly closed, GoLocalProv has learned.

The Sawyer School, a Providence-based school that offers certificates in office information systems and medical assistance, also closed three schools in Connecticut.

Last year, GoLocalProv reported that more than 21 percent of the students who began repaying loans from the Sawyer School in fiscal years 2009 and 2010 were in default. Of Rhode Island’s higher educational institutions, only Lincoln Tech (25 percent) had a worse default rate

The Sawyer School’s closure comes on the heels of the Cranston-based Sanford-Brown Institute’s decision to close in 2014. Career Education Corp., the company that runs a nationwide chain of for-profit colleges including Sanford-Brown Institute, saw a sharp decrease in new student enrollment (down 22.3 percent) and reported losses of $30.8 million in the third quarter, which ended Sept. 30. The closing of the schools will result in approximately 900 lost jobs nationwide.

The New England Institute of Technology (NEIT) has said that it stands ready to assist students in completing their education at New England Tech, according to Seth Kurn, Executive Vice President at NEIT.
 

 

Enjoy this post? Share it with others.