8.5% of private non-profit students default, and 13.5% of public non-profit students default. Those are both pretty high numbers, and those are just the defaul

8.5% of private non-profit students default, and 13.5% of public non-profit students default. Those are both pretty high numbers, and those are just the defaults; i.e., the worst-case scenario. It's not counting the tens of thousands of people who defer housing, defer saving for retirement, defer saving for their own children's education, or end up on a perpetual treadmill of loan payments that will destroy their ability to retire. We are heading is the worst possible direction wrt regulation of private for-profit institutions; the available data incontrovertibly demonstrates they should be subject to more scrutiny, not less. But that's definitely not the whole story.