|Eldorado College and Orange County Business College|
|Location||Escondido, California, USA|
Eldorado College was a school founded in Escondido, CA, and later opened four additional campuses. Eldorado College campuses were established in Oceanside, California, West Covina, California and San Diego, California. The fourth, known as Orange County Business College, was established in Anaheim, California. Eldorado College was privately operated from 1961 to 1997.
Eldorado College and OCBC offered nine two-year programs, a number of four-year degree programs and various certificate programs. There were well over 10,000 graduates from the Colleges. According to the BPPVE database, Orange County Business College, located at 2035 East Ball Road, Anaheim, CA 92805 closed on November 24, 1997. There is no custodian of records or contact information listed on the BPPVE database for OCBC or Eldorado College. Both Eldorado College and Orange County Business College were accredited by the Accrediting Council for Independent Colleges and Schools (ACICS) in 1997. Eldorado College in Oceanside, CA had been accredited since 1980 and their campus in West Covina, CA had been accredited since 1985. Orange County Business College in Anaheim had been accredited since 1973.
According to a decision on the Department of Education's Office of Hearings and Appeals website, the school was cited. The concerns were discovered in March 1991 during an on-site program visit by the SFAP (Student Financial Assistance Program).
Student loan default rates led to the closure of the school. According to the Department of Education website, Eldorado College had student loan default rates of 27.5%, 36.2%, and 38.9% for student cohorts in 1993, 1994, and 1995, respectively. This resulted in the loss of federal aid eligibility for its students.
The college closed on September 11, 1997. The college president said that the school's closure was the result of "overzealous bureaucrats."
- LA Times, 11/29/97, article in Metro section
- "Custodian of Records". Bureau for Private Postsecondary Education. Retrieved March 6, 2012.
- "Archived: Current Cohort Default Rates". US Department of Education. Retrieved March 6, 2012.
- Weiss, Kenneth R. (November 29, 1997). "Loan Default Rate Falls Amid Crackdown". Los Angeles Times. Retrieved March 6, 2012.