Lori
Birmingham,#2UPDATE EX-employee responds
Mon, April 02, 2012
I agree that VC is a ripoff and they are crazy expensive but it seems that you do not quite understand what happened. Charges depend when you were about to withdraw. They can charge you a portion of the tuition depending on how long you stayed in classes, and they can charge the full amount of tuition after 7 weeks. This is normal with most schools. Another thing is that they charge so much you do NOT get your Pell grant back you can only get a small portion of your unsubsidized loan back. The average program there is around $4,380 each quarter (3 months). You only get a max of $1850 in pell (NOTHING IS LEFT, IN FACT YOU STILL OWE), $1500 (if you are a 2nd year student) in your subsidized loan, the remainder is your unsubsidized loan $2000. They want to minimize how much loans you take out because if too many students default on their student loans, they get closer to losing government funding (Pell grants, and loans) which will eventually shut them down if Gainful Employment doesn't do it first.
All schools split up funds over an award period that could be a year (semester schools) or 9 months (quarterly schools). The government does not issue money in one payment so how can a school? The main reasons why for-profit schools can take advantage of people is because they have no concept of financial responsibility. A 15-month certificate there will cost you $22,000 and if you graduate you will only make about $9 or $10 hourly. Why do you need to take out extra loan money on top of that?! How will you pay it back?! It's the government's money it's accruing interest everyday. People can go to a community college where their Pell grant usually pays for everything but they go to these colleges because it's easy and they get a small check back. It's bankrupting this county and it's pathetic.