For-Profit Colleges | Texas Public Radio

For-Profit Colleges

Students pick up transcripts at the Ingram campus of Brightwood College San Antonio after learning their school was closing Dec. 5 2018.
Camille Phillips | Texas Public Radio

Updated 9 p.m.

Students at Brightwood College in San Antonio were told Wednesday that their school was closing effective immediately.

Joey Palacios / Texas Public Radio

Students at the for-profit Career Point College are at a loss for what to do next after the college suddenly ceased operations Monday.  The closure leaves students, many who took out $30,000  in loans, with questions about their educational future.

Nursing student Jessica Carta received the news via her student portal.

“I was just shocked. I just wanted to know what I am I going to do. I have a son I have to provide for. I have to start working soon," Carta says.

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In the past 6 months, 7,500 people representing a combined $164 million in student loans have asked to have their student loans forgiven. Citing a 20-year old law that had before 2015 only been used 3 times, the law provides  loan forgiveness for defrauded students.

When the Department of Education started investigating Corinthian Colleges, one of the biggest for-profit college chains in the country, they were following a chain of student stories of fraud and exploitation. 

Low-income students fell prey to big promises from Corinthian and other for-profit schools who were seeking access to big federal dollars through the federal student-loan program, also known as FAFSA. 

When the feds turned off the tap last year, Corinthian lost access to hundreds of millions of dollars and as of early May has filed for bankruptcy protection.