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Just 1 percent of students enrolled at Dream Center-operated institutions at the time of their closure earlier this year have successfully transferred elsewhere, according to data shared with Democratic lawmakers by the Department of Education.
The numbers weren't much better at other recently closed for-profit college chains. Only 5.6 percent of students at Education Corporation of America, which shut down in December of last year, have successfully transferred, and 3.1 percent of students enrolled at Vatterot College programs have transferred.
The department data show that many more students at those institutions have sought to have their student loans cleared through borrower-defense claims. About 1,500 students from Dream Center institutions, which included Argosy University and Art Institute campuses, have filed borrower-defense claims for more than $86 million in outstanding student debt.
The Education Department has made little progress adjudicating borrower-defense applications from students who attended other for-profit college chains. According to the numbers provided to lawmakers, 50 percent of claims from former Corinthian Colleges students and 99 percent of claims from ITT Tech students are still pending decisions. Meanwhile, no decisions have been issued on claims from students who attended programs operated by DeVry University, University of Phoenix, EDMC or Career Education Corporation.
