Institutional Loans From For-profit Colleges Can Leave Students in the Lurch
Kashia Campbell earned top grades from her patient care technician program at Florida Career College. So she was shocked to find that, upon graduation, she was blocked from the exam to get certified in the field.
The problem was a $6,500 loan she had taken out directly from the college to help her cover tuition. Florida Career College demanded that she pay more of her loan before they would release her transcript, something she said she had not been told previously. The transcript was a prerequisite for the certification exam, and without it she ended up in a lower-paying job earning $10 an hour. Four years later, she can pay only $50 a month on her school loan.