Less than two years after it opened its doors, Everest College is closing its Milwaukee campus.
AFT Local 212, Alderwoman Milele Coggs, the Hillside Residence Council and MATC's District Board Chairwoman, Ann Wilson, fought to prevent Everest from setting up shop in Milwaukee because it preys on low-income students.
We warned the city officials courting Everest that it had abysmal job placement, drop-out and graduation rates; that its student financial aid default rate was among the nation's worst; and that its credits did not transfer to most legitimate colleges and universities.
But there was too much money at stake, for Everest headquarters, Corinthian College Inc. and its stock holders, the Milwaukee developer, Dan Druml, and the lawyers and public relations firms that made money on the Everest Project.
Rather than heed our warnings Everest boosters accused us of fearing competition. But Everest never posed a threat to MATC or any other legitimate institution of higher education because it is nothing more than a diploma mill.
Everest was a danger, however, to the students that it lured into taking out huge loans for inadequate programs and a job placement record of less than 10%. Our opposition to Everest was motivated by a sincere desire to protect the low income and minority students it sought to exploit.
In the end, a lot of folks made money off Everest short-lived stay. But its students, as we predicted, were the losers. They are left with little more than broken dreams, huge debts and credits that do not transfer.
There is much more about this sordid affair than appeared in the Milwaukee Journal Sentinel article. It will come out shortly. So stay tuned.
Dan Bice's article on the closing is linked here.