One of the most famous cooking schools, Le Cordon Bleu, is closing all of their school campuses throughout the United States. It is one of the many for-profit colleges that have recently closed.
Many of these for-profit schools have been under scrutiny the last few years over their recruiting strategies and finances. Le Cordon Bleu was one of these schools and named in numerous lawsuits.
Students that attend for-profit schools pay more for their education than they would at a public school. For-profit schools also receive a great deal of financial aid, which included Le Cordon Bleu. The student’s education does not seem to be at the level it should be considering all of the money they are paying. Many of the students attending these for-profit schools end up being unemployed due to false promises made by the schools.
Adela Soliz is part of Brooking Institution, which is a nonprofit organization. She states “students who are enrolled in these colleges tend to accumulate a lot of debt, and that it’s not clear whether they’re graduation outcomes post-graduation outcomes make this debt worthwhile.” Soliz also states “While the for-profit colleges were enrolling a very small percentage of undergraduates as a whole, a lot of federal aid was going to them.”
With the closing of Le Cordon Bleu, the current students will be left with a great deal of debt and not much to show for it. If you have questions or comments, please chat in the comments below or on the ChallengeStudentDebt Twitter handle.
If you feel you were defrauded by the school you attended or you are being treated poorly as a distressed borrower by your creditors, take the free challenge debt review to find out what options you have regarding your student loans.