By Erica Perez, Bay Citizen
The Academy of Art University has sued the California Student Aid Commission, arguing the state agency should not have ruled the San Francisco college’s students ineligible for Cal Grants in the 2012-13 academic year.
Under new rules signed into law in June, California colleges must have a student loan default rate of 15.5 percent or less and a graduation rate of 30 percent or higher for students to qualify for Cal Grants, which do not have to be repaid. The law exempts colleges where less than 40 percent of students borrow federal student loans, such as community colleges.
The goal of the new eligibility rules was to focus the state’s limited financial aid dollars on colleges that provide a significant return on taxpayers’ and students’ investments in terms of jobs and degrees. The Academy of Art was one of 154 institutions kicked out of the program this fall – most of which are for-profit colleges.
Read the complete story at Bay Citizen.
