Education gets even harder to obtain

Career College Central Summary:

  • Cost is an always present thought for college students. Rightly so, because college is getting more expensive.
  • The average student-loan debt for a 2014 college graduate was $33,000, according to an analysis of government data by Mark Kantrowitz, publisher at Edvisors, a group of websites about planning and paying for college.
  • That number doesn’t really shock me – as I’m sure it doesn’t shock others who have had statistics like that quoted to them since the time they began college. What shocked me is what I recently learned about for-profit colleges.
  • For-profit schools, the online chains you see advertised like the University of Phoenix, enroll about 12 percent of students nationally.
  • But they happen to account for about 44 percent in student-loan defaults, more than any other type of college, according to newly released federal data.
  • The reason for the high default rates is that so few students actually graduate from these schools.
  • The Department of Education created a “gainful employment” regulation to single out and cut off student aid to allegedly poor programs that leave students strapped with debt and with little job prospects.
  • Maybe this would fix the for-profit problem. But what happens when these institutions collapse?
  • The students affected will most likely have no clear plan for how to finish their education.
  • Yes, they could try to attend one of the many public or private institutions available.
  • But how accessible is a college education especially for minority, disadvantaged and older students – who are enrolled in for-profit colleges in greater fractions?
  • For-profit colleges offer more, at least presumed, flexibility and accessibility than other colleges do for those who need it in order to further their education.

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