Students of for-profit colleges struggle the most repaying loans - The Buffalo News

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Students of for-profit colleges struggle the most repaying loans

Students who attended for-profit institutions struggled the most to pay down the principal on their student loans. For-profit schools also produced lower shares of students who earned annual incomes of at least $25,000.

Nearly 85 percent of 59 proprietary colleges in New York state had repayment rates below 50 percent; 16 of the schools had repayment rates of less than 25 percent.

The rates for Cheryl Fells School of Business in Niagara Falls and Bryant & Stratton College in Buffalo were among the lowest in the state.

In January, the federal Education Department also revealed that the two Western New York schools failed the department’s “gainful employment” accountability test. Students who had enrolled in Bryant & Stratton’s associate and bachelor’s degree programs in criminal justice/law enforcement administration and associate degree program in administrative assistant/secretarial science were saddled with loan payments greater than 12 percent of their total earnings. The programs were among 800 nationwide in jeopardy of not qualifying for future federal student aid.

Student loan debt by the numbers: A school-by-school breakdown

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