Students at for-profit colleges least likely to repay their loans.

[eridani]

http://www.nytimes.com/2010/08/14/education/14college.html


Adding new fuel to the growing controversy over regulating for-profit colleges, the Department of Education on Friday released data on student-loan repayment rates at the nation’s colleges and universities, listing the institutions by name.


For-Profit Colleges Mislead Students, Report Finds (August 4, 2010) Although the department issued no analysis or comparison of repayment rates by sector, outside advocacy groups that analyzed the data found that in 2009, repayment rates were 54 percent at public colleges and universities, 56 percent at private nonprofit institutions, and 36 percent at for-profit colleges.


“I think it’s notable that the for-profits are the only type of school where the majority of students are unable to repay their loans,” said Debbie Frankle Cochrane, program director at the Institute for College Access and Success, which has called for tighter regulation of for-profit institutions.

At some for-profit colleges, the repayment rates were startlingly low. For example, 33 of the 86 Corinthian Colleges’ Everest locations had repayment rates of less than 20 percent — and at several, the rates were less than 10 percent.

At the headquarters of the University of Phoenix, the nation’s largest for-profit education company, the repayment rate was 44 percent, compared with 38 percent at DeVry and 27 percent at Kaplan University, a unit of the Washington Post Company.

[midnight]

1. I wonder if that is because for profit colleges are negligent

in providing course work that is needed to succeed?

[mediaman007]

2. Bingo!

[eridani]

4. +10 n/t

[tammywammy]

7. Also, they're charging a ton for degrees like medical billing and coding.

They're telling these uninformed students they'll make a ton more than they'll ever realistically make, while encouraging them to take on a ton of debt.

[exboyfil]

3. A simple reform would be to make student loan

approvals/availability based on the track record of repayments. I would like it tracked by both major and institution.

[704wipes]

5. Diploma Mill$

nt

[lonestarnot]

6. K & R!

[nemo137]

8. For those interested, a Frontline on the subject.

http://www.pbs.org/wgbh/pages/frontline/collegeinc/view/?utm_campaign=viewpage&utm_medium=grid&utm_source=grid

Enjoy.

[eridani]

9. Thanks. Just what I expected n/t