"Crackdown apt to cut US aid to many for-profit schools"

[Evidence Based]

http://www.boston.com/news/educatio...apt_to_cut_us_aid_to_many_for_profit_schools/

An article in today's Boston Globe about new US government regulations that may cut off subsidized loans to many professional schools because of their students' inability to repay their loans. The article is not specific to Clinical Psych programs, nor does it really even mention them, but the same principles would apply. Presumably.

Thought SDN would like to hear about this.

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[Student4Life0]

http://www.boston.com/news/educatio...apt_to_cut_us_aid_to_many_for_profit_schools/

An article in today's Boston Globe about new US government regulations that may cut off subsidized loans to many professional schools because of their students' inability to repay their loans. The article is not specific to Clinical Psych programs, nor does it really even mention them, but the same principles would apply. Presumably.

Thought SDN would like to hear about this.

Very interesting. Do people in our field need to worry about this though? Are there many for profit graduate programs in Psychology, besides Argosy?

 

[deleted176373]

Very interesting. Do people in our field need to worry about this though? Are there many for profit graduate programs in Psychology, besides Argosy?

Surely you jest...

 

[Student4Life0]

Surely you jest...

lol no. I guess I am not too well informed. All of the programs that I have spent time researching at not for profit, so I am not too sure. If you could elaborate though, I would apreciate the info!

 

[Student4Life0]

*Are not for profit

 

[deleted176373]

lol no. I guess I am not too well informed. All of the programs that I have spent time researching at not for profit, so I am not too sure. If you could elaborate though, I would apreciate the info!

There are a large number of "for profit" programs in the field of Clinical Psychology.

Mark

 

[Student4Life0]

There are a large number of "for profit" programs in the field of Clinical Psychology.

Mark

Would you mind listing some off?

I guess my fear here is that I will end up in a PsyD program next year, with no way to get loans. Although to the best of my knowledge, I am not applying to any of these notorious for profit schools. In fact, I have started heavily pursuing the idea of a PhD, because I just don't think anyone should have to pay 100,000+ for an education. But still, I want to know that I will have the option of receiving loans, where ever I end up.

 

[DynamicDidactic]

Would you mind listing some off?

I guess my fear here is that I will end up in a PsyD program next year, with no way to get loans. Although to the best of my knowledge, I am not applying to any of these notorious for profit schools. In fact, I have started heavily pursuing the idea of a PhD, because I just don't think anyone should have to pay 100,000+ for an education. But still, I want to know that I will have the option of receiving loans, where ever I end up.

Here is a rule of thumb:
Take a look at this list
http://www.asppb.net/files/public/ASPPBPsychExamScores3-19-10.pdf

Find the programs that list a boat load of test takers and a very low pass rate for that program, and you likely have a for-profit school.

 

[deleted176373]

Would you mind listing some off?

I guess my fear here is that I will end up in a PsyD program next year, with no way to get loans. Although to the best of my knowledge, I am not applying to any of these notorious for profit schools. In fact, I have started heavily pursuing the idea of a PhD, because I just don't think anyone should have to pay 100,000+ for an education. But still, I want to know that I will have the option of receiving loans, where ever I end up.

Yes, I would mind... Sorry, but there is no reason for me to waste time compiling such a list. You can find the information easily enough, just look for the schools with lots of students and the lowest APPIC match rates. You'll have to do your own legwork on that.

Mark

 

[Student4Life0]

Yes, I would mind... Sorry, but there is no reason for me to waste time compiling such a list. You can find the information easily enough, just look for the schools with lots of students and the lowest APPIC match rates. You'll have to do your own legwork on that.

Mark

That is quite alright. I only asked because it seemed that you had the information readily available. I would not wish to inconvinience anyone.

But thanks for the tip regarding match rates/number of students. I suppose I do not have to waste my time worrying about this matter because I would not apply to programs that have low rates/large incoming classes anyway.

 

[Student4Life0]

Here is a rule of thumb:
Take a look at this list
http://www.asppb.net/files/public/ASPPBPsychExamScores3-19-10.pdf

Find the programs that list a boat load of test takers and a very low pass rate for that program, and you likely have a for-profit school.

thank you!

 

[FadedC]

Here is a rule of thumb:
Take a look at this list
http://www.asppb.net/files/public/ASPPBPsychExamScores3-19-10.pdf

Find the programs that list a boat load of test takers and a very low pass rate for that program, and you likely have a for-profit school.

It's interesting to note that the pass rates in general are a little lower then I expected.

 

[Evidence Based]

Just a quick note, the new regulations don't just apply to for-profit schools. A cut in federal aid would be based on a low rate of repayment of student loans (<45% I believe), so non-profit schools could also be effective. Therefore, given the same rate of loan repayment, there is no advantage to going to say Alliant (which I believe is non-profit) vs. Argosy.
And quite honestly, if this is followed through with, I'm unconvinced this would be a bad thing for the field.

 

[Student4Life0]

So it says it is in regard to subsidized loans. Does this mean unsub would be free flowing? People would have an even harder time paying these back.

 

[docjohng]

Yeah, I think people's distinctions between profit and non-profit when it comes to education are a little silly. Large American universities are big business, whether they operate as a non-profit or not. It's a simple legal distinction that makes little difference in the real world.

http://www.theamericanscene.com/2008/05/12/is-harvard-just-a-tax-free-hedge-fund

 

[tshielad]

what is the minimum percentage of pass rate that you find acceptable?

 

[O Gurl]

Here is a rule of thumb:
Take a look at this list
http://www.asppb.net/files/public/ASPPBPsychExamScores3-19-10.pdf

Find the programs that list a boat load of test takers and a very low pass rate for that program, and you likely have a for-profit school.

One note of caution, though. Table 4 reports pass rates for the doctoral programs AND the more advanced trainees (post-docs) at a given institution. I realized that when I saw the disparity in pass rates between respondents from my doctoral program (psychology dept) and the post-docs at our med center (psychiatry). Apparently, according to my TD, the EPP cutoff score is far more stringent in my home state than in the other states where my fellow classmates have sought licensure. So just be sure you are looking at the correct value.

 

[cara susanna]

Yeah, I think people's distinctions between profit and non-profit when it comes to education are a little silly. Large American universities are big business, whether they operate as a non-profit or not. It's a simple legal distinction that makes little difference in the real world.

http://www.theamericanscene.com/2008/05/12/is-harvard-just-a-tax-free-hedge-fund

The issue is whether or not that investment is paying off. I guarantee that significantly less Harvard graduates are defaulting on student loans compared to for-profit school graduates.