Sanford Brown College and Institution Closing Its Doors
As you may have heard by now, if you are a student attending any one of the Sanford-Brown Institutes or Sanford-Brown Colleges, your educational and even financial future could be looking cloudy. With the Career Education Corporation’s (CECO) recent announcements, this could mean that many students will be left hanging, shrugging their shoulders and wondering what to do next- that is, now that their college essentially doesn’t exist anymore…
But don’t panic yet… I will go over why in just a minute.
You can read the full press release here, straight from the Career Education Corporation. If you’d rather not, we did that for you and below we’ve provided a short summary along with what this could mean for the attending students of the College or Institution.
Last night, Sanford-Brown’s parent company, Career Education Corporation, announced their new strategy to point its resources and its focus specifically towards their regionally accredited Universities, which consists of Colorado Technical University (CTU) and American InterContinental University (AIU).
In order to help this re-focusing strategy, a teach-out process or discontinuation of Sanford Brown ground campuses and online programs has been called into action effective immediately.
This means that Sanford-Brown’s doors will slowly shut rather than slamming shut on students, faculty and staff.
But when it comes to those directly impacted…is there really a difference?
The Career Education Corporation released a full statement about their decision to move forward with a teach-out route, implying that a teach-out will “minimize the potential negative impacts on faculty, students and staff members.”
The teach-out will go into effect immediately over the 14 different Sanford-Brown Colleges, including Sanford-Brown online. Many of the full-time employees and students who have grown to trust the Institution, have already been released of their positions leaving students with more questions than answers.
The full teach-out or discontinuation of the institutions and colleges will take anywhere from 18 months to 3 years–yet there’s the lingering thought of how many students will truly stick with them when campus class offerings are cut due to limited resources and scheduling?
So what does the Sanford-Brown Teach Out Mean for Students?
Over 30,000 students are enrolled in the Sanford-Brown College Online division alone, but the Sanford-Brown group still holds 13 other properties in major cities across the United States, as well as 3 different Institutions. While the students that are about to graduate within the next year or so, may not see the change affect them as much, most students currently enrolled in the college or institution will.
Feel any better yet?
Some of you might…unfortunately, a larger majority are left feeling blindsided…abandoned…angry.
The teach-out of some Sanford-Brown Colleges or Institutions could be complete within the next year and half, if not less. For many students, that is only a mere portion of what they will need for a full college term in order to earn their degree. When the College and Institution’s doors do close on these students, what are they going to do…?
While Sanford-Brown campuses provide students with an array of programs, they come at a hefty price tag. Students who attend Sanford-Brown accumulate an average of $65-$85K in student loan debt. This debt range is 2-3 times the cost of attending a public college or university. No doubt, the debt average of Sanford-Brown attendees is so high because it is a private, career-focused college.
If students don’t either seek a different way to get their degree or drop out completely, the underclassmen at Sanford-Brown campuses will undoubtedly continue to utilize federal student loan money, while inevitably being served a swift kick out the door.
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Where will these students turn considering the people they grew to trust started to disappear from campus over a year ago and have continued through the announcement yesterday?
Many of the students impacted by this decision will have trouble finding employment in their niche field, either because they would not have finished their degree or because of the negative press this decision will have on how their degree is viewed by employers.
Yet, most students will be forced into repayment on their student loans if they drop less than half time and/or choose to discontinue their education during the “teach out process” regardless of whether or not they can afford to do so. They may find that many of their credits will not transfer to other colleges and feel trapped to accumulate more student loan debt.
Students have felt or already feel as though they don’t have to repay the loans because the school is closing…but in reality…they do and will have to start paying them back right away.
So what options do the students who are feeling angry, abandoned, helpless have at this moment?
There is help to uncover the options available. Options which include lowering your student loan payment and portions of your loans being forgiven. While Sanford-Brown may have left their students feeling stranded and helpless, there are choices those students can make to get to where they want to be in their educational and financial future. Call us at (844) 692-6684 to see if you qualify for loan forgiveness.
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