“Where do I begin. They are a SCAM and the fact they are still operating amazes me. They will take your money, and leave you wondering when class will actually start, they cancel entire courses w/out any notice, but they’ll still take your money. They will not notify you of when the class will be taken again, but again they will take your money. I pray that someone that is considering them look for another school and do NOT end up here.”

That was the text of a complaint a consumer filed with the BBB about Sollers College, a for-profit school offering courses online and at a New Jersey campus. Tuition ranges from $4,000 to $27,000 for certifications in such disciplines as IT and Life Sciences that last a few weeks to a few months.

In October 2023, the FTC announced a settlement with Sollers over allegations that it misled students about their job prospects when they graduated. Sollers claimed that “90% of our students are placed within 3 months of graduation.”

It claimed to have partnerships for its graduates to get jobs with leading companies like Pfizer, Weill Cornell Medicine and Infosys. Logos for these and other companies were featured on “Testimonials” and “Success Stories” pages on its website.

What did the FTC say?

• Sollers had no basis for the high graduation claims. Its own data suggested the placement rate for Life Sciences graduates was as low as 52 percent.
• Sollers counted students who didn’t communicate with it after graduation as employed.
• Many of the partner businesses had no such relationship with the school. Some sent cease-and-desist letters demanding that their name and logo be removed from the school’s website.

The FTC said Sollers encouraged students to pay for their education using an “income-share agreement” in which they agreed to pay the school a percentage of their future income on a monthly basis, typically 10 to 20 percent for two years; some ended up paying for as long as six years. Agreements failed to include the Holder Rule notice that advises consumers who take out certain kinds of loans about their rights to assert claims and defenses, even against third-parties that acquire the loans. Sollers sold some of the loans and turned others over to third-party debt collectors.

In addition to having to reform its practices, the settlement with the FTC requires Sollers to forgive outstanding debts, repurchase and forgive debts it sold, and ask credit reporting agencies to delete them from consumers’ credit reports.

The FTC says that public or non-profit schools are usually accredited, not owned by anyone, offer many different majors, and mainly want to help students learn. For-profit schools are sometimes accredited, owned by a person or business, often focus on a few areas of study, and want to make money for their owners.

Whether it’s accredited or not, check out the school, including with the BBB and online using terms like “complaints,” “scam” and “reviews.” Use the Department of Education’s College Scorecard to find out average debt and student borrowers’ default rates at schools you’re considering. Check out the school’s reputation with potential employers or schools you may want to transfer credits to. Be wary of high-pressure recruitment tactics and vague answers to your questions.