pbwt.com Peter C. Harvey Former New Jersey Attorney General Patterson Belknap Webb & Tyler LLP May 24, v1

2 Association of Private Sector Colleges and Universities (APSCU) - Over 600 member schools - Colleges and Universities - Technical/Trade Schools Pink Collar Administrative (Secretaries/Administrative Assistants) Health Care (Nurses) Culinary Transportation (Truck Drivers) Construction Technology (Computer Diagnostics/Repair) Trade (Plumbing/Electrical/Hair Styling) Visual/Performance Arts (Acting/Dance)

− 2012 EDUCATED/TRAINED - Over 855,562 Graduates Nationwide New Jersey -93 Private Sector Colleges (Total Colleges: 165) -Students: 54,576 (Total College Students: 591,647) -Employees: 3,300 full-time New York -140 Private Sector Colleges (Total Colleges: 461) -Students: 122,369 (Total College Students: 1,717,883) -Employees: 8,221 full-time

4 NEW JERSEY 32% African American 2% All Degrees 25% Hispanic/Latino 5% Associate’s Degrees 31% White 2% Bachelor’s Degrees Total Students: 70% Women 1% Master’s Degrees 88% All Certificates NEW YORK 28% African American 5% All Degrees 24% Hispanic/Latino 14% Associate’s Degrees 31% White 3% Bachelor’s Degrees Total Students: 68% Women 2% Master’s Degrees 65% All Certificates

5 Use same factors for non-profit and for-profit colleges 1.School Purpose and Student Demographics 2.Accreditation 3.Post-Graduate Job Placement 4.Job Availability in Sectors Advertised/Taught by School 5.Graduation Rates 6.Average Cost Per Student 7.Average Debt Per Student 8.Post-Graduate Earnings 9.Representations by School About Job Placement/Graduation Rate/Cost

6 College Courses: College Accreditation: Middle States Commission on Higher Education Certificate Programs:  Practical Nurse Program – approved by State, Board of Nursing  Medical Assistant – accredited by Commission on Accreditation of Allied Health Education Programs  Surgical Technology Program – Accredited by Commission on Accreditation of Allied Health Education Programs  Online Education – Quality Standards Certification – United States Distance Learning Association (USDLA) Accounting Interior Design Fashion Merchandising & Management Graphic Design Information Technology Management Justice Studies/Criminal Justice Marketing Communications Medical Insurance, Billing & Coding (Certificate) Surgical Technology Medical Assistant (Certificate) 11 other courses of study

7 Tuition & Fees: Average Federal Student Loan Debt - GRADUATES ( ) Certificate Programs:$16,450 (Annually) Certificate Programs$11,696 (NJ) Degree:$24,750 (Annually) Associate’s Degree$17,466 (NJ) $22,473 (NY) Practical Nurse: $31,425 (Annually) Bachelor’s Degree $28,650 (NJ) $31,487 (NY) Students Receiving Aid: Institutional Aid:*83% Federal Grants:67% State Grants:42% Federal Loans:72% * College Awarded over $49 million in Institutional Aid ( )

8 Elite Colleges:$68,470AVERAGE DEBT PER STUDENT: UNKNOWN Private Colleges:$59,341 Public Colleges:$28,387 Source: Forbes (2016)

9 Graduation RatesEmployment Rates Associate’s:25% (3 yrs) ( )Degree in Major:79.5% Bachelor’s:31% (6 yrs) ( )Overall Degrees:95.3% Certificate in Major:75.2% Certificate Overall:83.1%

10 Random Sample of Graduation Rates – US Department of Education University of Alabama38%LSU27% University of Arizona34%Michigan State48% University of Arkansas34%UNLV13% California State: Fullerton15%University of New Mexico11% Colorado State University36%Montclair State University NJ)31% Florida State University48%North Dakota State22% Georgia State University18%Oregon State University30% Kansas State University26%University of Oklahoma31% University of Kentucky32% GRADUATE EMPLOYMENT RATES: UNKNOWN