Back on Default on Student Loans

The subject of student loans keeps popping up in the popular press especially when the default figures nationally are 8.8 %.  A default loan is one that is at least nine months behind in payment.  That means the students must have dropped out or graduated before the loan payments must begin.  Click on the states of this map and you can see the breakdown of defaults by state.

Nearly one half of the student default comes from for-profit institutions who have a whopping 10% of the total number of U.S. students. 

Before I found this article, I had intended to be a serious post, but take a look at the illustration to the left.

The  image came from an article that targets the problem of 10% of the colleges (for-profits)  schools creating over 50% of the debt. The article gives facts figures, and statistical data clearly illustrating the problem the for-profit colleges have created. The for-profit DeVry specifically was mentioned in the article along with the University of Phoenix as two of the greatest problem creators - the bad guys.

So what happened when I clicked from my search to the article?  An annoying add popped up.  Guess what??!!  It was an ad for for-profit DeVry's Keller's School of Management!   Sigh.....I'm going for a cup of coffee.

Meanwhile look at this chart and see the student growth of for profit students since 2000.  This student debt will be getting worse before we can fix the situation.  It is like stopping a glacier.

We have to keep the for-profit colleges' misdeeds separate from what pubic and private non-profit colleges have been doing.