What's Profit Got to Do With Student Loan Defaults?
by SavvyRoo on Jul 10, 2014 | Views: 190 | Score: 2
| % | |
|---|---|
| Just 11% of all students were enrolled in for-profit institutions in 2009-2010. | 11 |
| But 48% of everyone who defaulted on their student loans by the end of 2012 had attended for-profit institutions. | 48 |
Sources:
trends.collegeboard.org, motherjones.com
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A lot, apparently. According to Mother Jones, "1 in 25 borrowers who graduate from college defaults on his or her student loans. But among graduates of two-year for-profit colleges, the rate is 1 in 5." Worse, as students go deep into debt, big institutions rake in the money, with ITT pulling in $1.3 billion in revenue in 2013.