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It is supposed to be mutually beneficial, but it isn't. A lot of this is getting driven by for-profit schools. The loan burden at for-profit colleges tends to
by bhickey 11y ago
It is supposed to be mutually beneficial, but it isn't.
A lot of this is getting driven by for-profit schools. The loan burden at for-profit colleges tends to be higher than non-profit colleges. Their share of DoE loans is about 25%. The default rate of for-profit students is three times that of non-profit students. Tuition for an associate degree program at a for-profit school will run you about $35,000/year versus $8,000/year at a non-profit school.
On top of this, they tend to mislead students about employment prospects. You might argue that we shouldn't behave paternalistically, but keep in mind that the Dept. of Education is party here. The feds have a strong interest in not supporting bad debt.
- srtjstjsj 11y agoThis needs to be split up into cases. For-profit schools are certainly a cesspool. Students should not attend. they attend because they are desperate and can't get into public or non-profit schools (because public schools are underfunded by govt, and non-profit schools are... too few? why aren't more non-profit schools appearing, with reasonable tuition?) Is there still a loan problem at public schools and expensive non-profit schools like GWU? Why?