The California-based Brooks Institute, which offered degrees in photography, media and visual arts for 70 years, announced that it will close its doors this fall. In a statement released by the institute, the for-profit college cites the negative impact of recent stricter guidelines on career college programs introduced in 2011.
The guidelines require that at least 35% of for-profit institution graduates be repaying their student loans, in addition to meeting debt-to-earnings requirements. Colleges that operate for profit are targeted in particular, as students who attend them represent a disproportionally high number of student loan borrowers, and in 2011 they accounted for 46% of student loan dollars in default.
As of January of this year, Brooks Institute calculated the cost of its 3-year professional photography Bachelor's degree at $81,330 for tuition and fees, with an additional $10,000 in books and supplies. Brooks stated that the median amount borrowed for the program was $15,584 in Federal loans, and that the job placement rate was 80%.
For the time being, classes continue at Brooks for currently enrolled students, and the college says it will continue offering administrative support through the end of October.
. dpreview.com2016-8-19 21:42
