For-Profit Schools See Continued Weakness On Loan Fears
Tweet
Share
E-mailGet Alerts COCO Hot Sheet
Join SI Premium – FREE
Shares in the for-profit private education sector are continuing their slide lower today, following a selloff yesterday on data from the Department of Education on 2009 loan repayment rates, which showed that a number of them are in danger of running afoul of a proposed gainful employment Notice of Proposed Rulemaking.
Shares of Corinthian Colleges Inc. (Nasdaq: COCO) are down 2.30%, Apollo Group Inc. (Nasdaq: APOL) is 2.46% lower, Career Education Corp. (Nasdaq: CECO) is 1.02% down, DeVry, Inc. (NYSE: DV) is 2.21% lower, Education Management Corporation (Nasdaq: EDMC) is down 3.50%, Strayer Education Inc. (Nasdaq: STRA) is down 1.6%
The government was looking at repayment rates for the schools, which were at 36% recently, compared to 56% for private nonprofit groups, and 54% at public state colleges and universities.
Federal aid for the schools would be cut if less than 45% of students are able to repay their loans. Many for-profit schools could go out of business without federal funded loans.
Shares of Corinthian Colleges Inc. (Nasdaq: COCO) are down 2.30%, Apollo Group Inc. (Nasdaq: APOL) is 2.46% lower, Career Education Corp. (Nasdaq: CECO) is 1.02% down, DeVry, Inc. (NYSE: DV) is 2.21% lower, Education Management Corporation (Nasdaq: EDMC) is down 3.50%, Strayer Education Inc. (Nasdaq: STRA) is down 1.6%
The government was looking at repayment rates for the schools, which were at 36% recently, compared to 56% for private nonprofit groups, and 54% at public state colleges and universities.
Federal aid for the schools would be cut if less than 45% of students are able to repay their loans. Many for-profit schools could go out of business without federal funded loans.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Verizon planning new round of layoffs this week - Barron’s
- Molina Healthcare to join S&P MidCap 400, Construction Partners to join S&P SmallCap 600
Create E-mail Alert Related Categories
Insiders' Blog, Momentum Movers, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
