Enrollment Plunge for DeVry Sends Stock Lower

[Bozita]

Good!


http://www.nytimes.com/2011/08/13/business/enrollment-plunge-for-devry-sends-stock-lower.html

BUSINESS BRIEFING | EDUCATION
Enrollment Plunge for DeVry Sends Stock Lower
By BLOOMBERG NEWS
Published: August 12, 2011

DeVry, the operator of DeVry University, said new undergraduate enrollment fell 26 percent, setting off a 17 percent loss in its share price. New summer enrollment dropped to 15,566, from 20,935 a year earlier, DeVry said. State and federal officials have been investigating profit-making colleges, and the Education Department has put new restrictions on financing for education companies. Adjusting to the regulations created distractions for employees, DeVry said Thursday. “Enrollment has been most impacted by the prolonged economic downturn and continued high unemployment, which has led some potential students to defer or refrain from making the commitment to enroll in college,” the company said. Stock in DeVry, which is based in Downers Grove, Ill., fell $8.90 to $44.49 a share.

A version of this brief appeared in print on August 13, 2011, on page B2 of the New York edition with the headline: Enrollment Plunge for DeVry Sends Stock Lower.

[alcibiades_mystery]

1. DeVry has to be more careful about magically turning Federal loans into profit

Without providing its students anything of value, but rather miring them in tens of thousands of debt.

Those additional 5,000 enrollments would have been the real hopeless suckers. Hard to do when the FBI is looking at your records.

[coalition_unwilling]

2. Institutions like DeVry prey on the uneducated, poor and uninformed. One

of the staff at my former place of employment had, at the mature age of 18, signed loans for upwards of $30,000 to finance some sort of certificate program at DeVry or ITT (in Los Angeles). She got the certificate but never was able to turn it into gainful employment. But the loans were not dischargeable through bankruptcy and she was hounded mercilessly by the various creditors who ultimately succeeded in garnishing her wages by 25% of her gross. And she will not have paid off the loans even with the garnishments until she is in her early 40s (assuming, of course, that she remained gainfully employed until then).

Anyone who owns shares in a DeVry or its like gets no sympathy from me. Ugh.

[FarCenter]

3. The real problem is that student loans are not dischargable through bankruptcy

That law should be change. Student loans should be treated like any other loan.

[coalition_unwilling]

6. Agree 100% with you. Student loans today can turn

students into little more than indentured servants. IIRC, the American Revolution was supposed to have ended indentured servitude.

[eggplant]

4. I taught at ITT for a semester

All these places leech off society.

[bluestateguy]

5. It's not a real college

And its claims of being a truly private school are suspect when so much of its revenue comes from government backed loans.

[Bozita]

7. Readers of this thread would likely enjoy today's Doonesbury ...