It is already a fact that most college grads go back home to live, with 80% of them without a job. So, the loan default it higher with the “private for profit schools”?
The “non profit” colleges aren’t doing so great either.
The default rate is a red herring.
College is a government backed bubble. It is going to burst.
You raise a good point. In fact it was one I was thinking about as I read the article. How many of these students are older? Meaning they are trying to feed the family and keep a roof over their heads...while attending these types of colleges. They may not have Mom & Dad to fall back on and their default rate would naturally be higher.
Verses those young college grads who move home...and can't find the job. They are paying their loans, but don't have to worry as much about food, rent, etc.
I would think one needs to look at the overall circumstances a bit closer before concluding the "for profit" schools are all scams.
Yes, the days of "going off to college" and sitting there for 4-6 years are soon going to be over.
It has to. Not everyone, not even the majority, need a college degree. To say otherwise is to be ignorant of history and of people in general.