For-Profit Colleges Exploit Students


The Education Department today released new data on the rate at which higher education students default on their student loans, which showed that students at for-profit colleges — schools like the University of Phoenix or Strayer University — are defaulting at rates far above those at other institutions. In fact, 25 percent of students who attend for profit colleges default within three years.

The schools also engage in aggressive recruiting and marketing tactics, promising students quick degrees and good jobs, when the result is more often a rip-off, resulting in “crushing debt and bleak job prospects.” A new report from the National Consumer Law Center said that the for-profits’ in-house loan programs are, for all intents and purposes, predatory.

(Source: ThinkProgress.org)

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