Subprime Student Loans

A fierce essay during a New America Foundation.

"The median graduation rate for exclusive schools is only 38 percent--by far a lowest rate in a aloft preparation sector. What's more, even those students who have it by mostly can't find jobs. The reason for this is simple: while a little exclusive schools offer a great education, most more have been subpar during best. Thus large numbers of students leave with little to show for their bid alternative than a store of debt. Not surprisingly, students during exclusive schools have been far more expected to default upon their loans than those during alternative colleges. The abominable diagnosis of disadvantaged students during a hands of exclusive schools ought to be a national scandal."

I'm really of dual minds about for-profit colleges, as my next essay in Fast Company will have clear. The critical fact is that they enroll these students more than any one else does. Whether they're "serving" those students or "targeting" them depends in partial upon a college and in partial upon your point of view.

As far as a graduation rates--various measures indicate that students who begin during two-year community colleges don't do most better.

Kevin Carey of Education Sector made a point to me that default rates have been a place to keep a parsimonious rein. If a colleges have tall default rates then by clarification students aren't getting their money's worth.
Reining in a growth of in isolation student loans, which is a incomparable context of this article, is crucial as well. Fewer in isolation loans = fewer unscrupulous, expensive for-profit colleges.
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