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Students at two Caribbean medical schools operated by DeVry, a for-profit education company, are amassing federal student loan debt -- $310 million in the year ending June 2012 -- despite the fact that the institutions are not accredited by the agency that accredits medical schools in the U.S., according to an article in Bloomberg. The article focuses on medical programs at American University of the Caribbean and Ross University, which enroll hundreds of students rejected by U.S. medical schools and which have higher debt and attrition rates and lower residency placement rates than American medical schools. The article also looks at DVry’s “pay-for-play” system in which it pays U.S. hospitals to provide its students with clinical training in their third and fourth years, with one result being the loss of clinical training spots for students enrolled at U.S. medical schools.
