States are still scrambling to reimburse students who lost thousands of dollars in up-front tuition costs after their private computer training school abruptly closed in December, according to a new story in the Baltimore Sun.
Maryland-based ComputerTraining.edu shuttered in December without warning, taking with it millions of tuition dollars from students in 14 states. State officials have turned to surety companies to recoup losses, but the gap between recoverable bond amounts and tuition costs is startling — 150 students Pennsylvania lost anywhere from $1 million to $2 million in Pennsylvania, where the company had to post only a $100,000 surety bond.
According to the Sun, Maryland officials recovered $540,000 through a letter of credit posted by ComputerTraining.edu and plan to use another $500,000 from a state fund specifically designed to aid students harmed by private school closures.
Ohio officials will turn to a similar fund to help students in their state.
“Right now, we’re trying to help the students,” said John Ware, executive director of the Ohio State Board of Career Colleges and Schools, told the newspaper. “Once we get that squared away, we’re going to work with the [Ohio] attorney general to see who we can go after legally.”
Read the story in full here.