At a time when airlines are struggling with a shortage of pilots and the FAA needs more air traffic controllers, one of the few schools in the nation that trains them has been given a deadline by its lenders.
Vaughn College of Aeronautics and Technology, a specialized school located in proximity to LaGuardia Airport in Queens, has agreed to a deal with a trustee for municipal bondholders after the school fell into technical default on its debt.
To avoid selling its building, Vaughn must increase its fall 2024 enrollment to 1,209 students—a 6% increase—and freshman enrollment must hit 360 students, Bloomberg reported.
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