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The following is from nces.ed.gov/collegenavigator. It is the student loan default rates. Typically and historically, the reason the student loan default rates are high is because graduates are UNEMPLOYED. This is researched and factual information regarding the relationship between high default rates and the lack of graduate employment.
Default Rates
21.0% - 2009 - So, this is from 2009. The [protected] figures have not been published yet. The average for public (state supported schools) is 8.8%. The average for for-profit schools (Omnitech is one) is 11%. However, Omnitech is at 21% as of 2009. That means that Omnitech grads default (cannot pay back their student loans) at a higher rate than even the schools that are similar to them.
17.7% - 2008
16.4% - 2007
Colleges with excessive default rates, either exceeding 40 percent in the latest year, or 25 percent for three consecutive years, can lose their eligibility for federal student aid programs.
So... lets look at a state supported school, say Georgia Perimeter College:
Default rate
11.7% - 2009 - Substaintially lower than Omnitech. This could mean that more graduates are employed. They ARE NOT going to give you the real career placement rate, public or private, many schools don't. But, if you research you CAN FIND THE TRUTH!
7!.9% - 2008
8;.0% - 2007
Now lets look at tuition, fees and books!. For Georgia Perimeter College, you would spend $4, 236 per academic year'. In two years, you would spend less than $9, 000?. When financial aid assesses what you need to attend school successfully, YOU WILL HAVE MORE TO LIVE OFF OF..
However, if you were to attend Omnitech, your tuition, fees and books would cost you $15, 069|. You would spend more than twice the amount to go to GPC and receive credits that you cannot transfer anywhere and have a higher chance of NOT getting a job after graduation'.
Furthermore, The pell grant limit for 2011 is $5550. This is need based and is an amount that YOU ARE NOT REQUIRED TO REPAY.
Once again, if you were to attend a school like Georgia Perimeter College, you would pay $4236 in an academic year. This includes books. If your pell grant is $5550, then that leaves over $1000 in your pocket for living expenses.
This also means that if from your FASFA it is determined that you need additional money for living expenses (rent and stuff), ALL OF IT GOES TO YOU! NONE GOES TO THE SCHOOL!
Just spreading the truth! How can you fight the truth--it just is what it is...
Please, please make an informed decision.
Stop lying to people. This is not comparing apples to oranges. This is program to program. Education to education. No one said anything about comparing OTI to GSU. That's just ridiculous. The National Center for Educational Statistics is a federal agency. I did not make up the stats or make them look any kind of way; they are what they are. The bottom line is the truth.
Just because Everest and others like may have extremely high default rates, does not make it right. There is a reason the default rates are high. PEOPLE GRADUATE AND CANNOT FIND EMPLOYMENT USING THE OVERPRICED EDUCATION THEY RECEIVED FROM OMNITECH. It is the truth.
Unbelievable that you would say that "Omnitech has some of the best default rates" really? 21% It doesn't matter if there are 1000 schools with 21% default student loan rate--it's still horrible. Facts are facts. This is supposed to be a career institution people. They say that if you attend there and pay more, you will finish in less time and most likely be employed. Not true. Most definitely not by completing the Audio Engineering program.
Obviously educational institutions have several performance measures, however, when they (all of them do) lie about placement rates, one must find the truth other ways. Face it, the student loan default rate is an indicator and most people do not know that.
When did OTI start loving informed students? That's new.
Oh yeah, the average default rate for a for profit insitutions (of which OTI is one--apples to apples, right?) is 11%. In 2009, OTI reported 21%. Not good. Please note that I am not fabricating any of these numbers, this is public knowledge that anyone can see. So instead of comparing schools, how about comparing schools with similar programs? Try the public technical colleges and pay particular attention to the cost.
So many individuals in this economy are struggling to make ends meet. Many are enrolling in institutions of higher education, public and for profit in order to receive student loan refund dollars to survive. This is unfortunate, but, absolutely true. When you enroll in a program at for profit insitutions like OTI, you pay more and have issues with transferring credits if you wish to do so in the future. Once again, by paying more (for less, in my opinion), you receive less refund; less money allocated for living expenses.
I am just an informed consumer who is exercising her right to free speech and sharing FACTUAL knowledge (not conjecture) with others.
By the way, I have no need for OTI, I received my degrees from well-respected, highly regarded public institutions with credits that I can transfer anywhere around the country if I so choose. Thanks anyway for the offer.
The complaint has been investigated and resolved to the customer’s satisfaction.
Omnitech and it's President Charlton Lester are a joke. The school is a complete rip off and Charlton Lester is an arrogant sexual predator. Just ask Candace Terrell who was an office manager at Omnitech in 2007 and sued Mr. Lester and won a $300, 000 sexual hart admen and battery judgement against him and Omnitech. You can look it up online for yourself, don't take my word for it. Look up Omniteh institute sexual harassment and you'll see. The date of his appeal that he lost was May 4th 2012, Five other women came forward to testify on her behalf that they were sexually harnessed as well by that sick egotistical devil. Denial is a river in Africa Mr. Lester, the molester. It's all there for everyone to see. Let me guess... all those women were lying? You are a sick evil man !
You can make stats look like whatever you like when you don't do apples to apples comparisons. Omnitech Institute and schools like it (Everest) don't pretend to be like state schools like GPC and GA State. In fact they go to great lengths to differentiate themselves from those types of schools. So for someone to make that comparison is not giving the whole story. So please by all means, do your own research using the same website provided above. We are confident you will find when you compare other similar schools in urban areas you will find that Omnitech has the some of the best default rates in it's class, lowest tuition and the lowest faculty to student ratio meaning students get the most attention. And please don't forget to make a visit to Omnitech today as part of your research. We love informed students, they make great Omnitech graduates!