I just finished watching the Frontline PBS show College, Inc. about for-profit education and the resulting student loan debt.
It was estimated that students in for-profit colleges will graduate with double the amount of student loan debt as compared to a traditional university.
The default rate was alarming as well. For-profit colleges account for 10% of students but 44% of student loan defaults.
Readers will recognize that I have always been critical of student loan debt. Why? For most students, the resulting debt is debilitating.
Many people would be surprised to learn that outstanding student loan debt is just about the same as all outstanding credit card debt. And also surprising, about 75% of students that start school never finish with a college degree.
If you would like to watch the College, Inc. show, click here.