Our Universities: Principles and Pragmatics
Student loan default rates are three times higher at for-profit institutions than at public universities. Those borrowing the most, default the most. Disturbingly, non-traditional college goers based on race, gender, or age, subsidize higher education through bogus loan programs in the greatest numbers. This is a slow motion crime/disaster, and neither regulation nor policy can stop it.
"They (college dropouts) have the economic burden of the debt but they do not get the benefit of higher income and higher levels of employment that one gets with a college degree. Access and success are not linking up."
Jack Remondi, Sallie Mae __________________________________________________________________