Florida Career College Posted 61% Loan Nonpayment Rate After 2024 Closure

2 articles · Updated · Yahoo Finance · Sep 14

Florida Career College had the worst federal student-loan repayment record in the latest Education Department data, with 61% of borrowers who entered repayment since January 2020 more than 90 days delinquent.
A 2023 investigation found the for-profit chain manipulated entrance exams so students without high school diplomas could qualify for aid, with proctors changing answers or taking tests for them.
That misconduct helped trigger a cutoff of federal funding, which supplied about 87% of FCC revenue, and the school shut all campuses in early 2024.
More than 440 colleges posted nonpayment rates above 40% and nearly 1,200 topped 30%, with many of the worst performers concentrated in for-profit chains.
International Education Corp., FCC's parent, still operates UEI College and United Education Institute; three of its campuses also ranked in the top 10, while the company blamed shifting federal loan policy.