Tuesday, April 22, 2014

For Profit Education is a Scam, Continued

The numbers on America's for-profit colleges get more dismal the harder you look. The Times:
According to federal data, graduates of two-year, for-profit career training programs average a loan debt of $23,590. By contrast, most community-college graduates owe nothing.

The Department of Education recently reported that, of the thousands of for-profit programs it analyzed, an astonishing 72 percent produced graduates who, on average, earned less than a high school dropout who worked full time. This means that the most debt-ridden students are unlikely to earn enough to ever repay their loans. While students at for-profit colleges are 13 percent of the total higher education enrollment, they account for nearly half of all student loan defaults.
I don't know what we can do about this dismal charade, but if it were up to me we would shut them all down.

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