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+--- Thread: Trident Not Financially Responsible Say Feds (/thread-1390.html)
Trident Not Financially Responsible Say Feds - Yancy Derringer - 07-19-2012
Thinking of enrolling at Trident/TUI? Trident is among those listed by the Dept of Ed as failing their financial responsibility test. The scale is minus 1.0 to 3.0, with 1.5 needed to pass. Trident's most recent (2009-2010) reported score was 0.2 (that's not a typo, that's two-tenths!) A score below 1.0 requires posting a letter of credit.
Their score for 2008-2009 also was 0.2. Their score for 2007-2008 was -1.0; that is, negative 1.0, the lowest possible score.
Quote:October 12, 2011
Degree-Granting Institutions With Low Financial-Responsibility Scores in 2009-10
All private colleges that award federal student aid must participate in the Department of Education's financial-responsibility test, which is based on information from their audited financial statements. The department develops a composite score on a scale of 3.0 to minus-1.0, based on financial ratios that measure factors such as net worth, operating losses, and the relationship of assets to liabilities. Institutions with scores of 1.5 to 3 pass.
In addition to being subject to extra monitoring, those with scores below 1.0 are required to post a letter of credit with the department equal to 10 percent of the federal student aid that goes to their students annually.
The figures shown are for the 180 institutions that received a score below 1.5, as well as the scores that they received in past years, when available. The figures below are for institutional fiscal years ending between July 1 and June 30, and institutions without a score provided for the selected time periods are indicated as "n/a."
. . .
Trident University International Cypress Calif. Private for-profit 0.2 0.2 -1.0
. . .
Trident is currently on WASC probation. According to WASC, "action is still needed before the institution can be found to comply fully with the Standards of Accreditation." A "Special Visit" is scheduled for fall 2012 to evaluate Trident's progress. If you are enrolled there now it might be a good idea to double up on courses because after fall they may not be around much longer.