The Kept-Up Academic Librarian: New Data Indicates For-Profits Must Improve On Loan Default Rates

June 28, 2012

New Data Indicates For-Profits Must Improve On Loan Default Rates

Former students in career-training programs at dozens of for-profit institutions have had so much trouble paying off their loans that the schools could lose access to federal student aid if they don't improve, new data from the U.S. Department of Education finds. The Education Department reported that at 193 programs at 93 schools, students were unable to meet any of three measures under the agency's new "gainful employment" rule. Twelve percent of all students in higher education attend a for-profit institution, yet they represent 46 percent of all student loan dollars in default. Read more at:
http://seattletimes.nwsource.com/html/businesstechnology/2018531078_apuspayingforcollege.html

Jun 28, 2012 1:38:00 AM | Financial Aid/Loans, For Profit Higher Education

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