Why doesn’t VIM offer financial aid?
As a licensed non-profit vocational school we believe burdening students with large amounts of interest bearing debt is not following our motto of “Building a Better World One Student at Time”. Instead we offer a number of low cost programs that allow our students the opportunity to start a good career debt free.
How can we offer high quality programs at such low cost?
Simple our goal as a non-profit is to help the community, so we do not focus on making profits we focus on our students benefitting from our programs.
According to the Huffington Post:
“One in 10 recent borrowers defaulted on their federal student loans within the first two years, the highest default rate since 1995, according to annual figures made public Monday by the Department of Education.
A separate gauge, measuring defaults occurring within the first three years of required payments, showed that more than one in seven borrowers with federal student loans went into default, an event that can trigger invasive debt-collection methods that include fees, wage garnishments, and withheld IRS tax refunds.”
Click on the following link to read the complete article:
Student Loan Defaults Surge To Highest Level In Nearly 2 Decades
Also for your review is a link to the Department of Education website discussing the startling rate of student loan defaults:
Default Rates Continue to Rise for Federal Student Loans