Saturday, September 29, 2012

Research on forprofit Colleges

I did some research on for-profit colleges and found that the Education department reported that College debt is up to 1 trillion dollars and has surpassed credit card debt. What is interesting is with all of that debt, the President has made it so students payments can be lower compared to their income in hope that there wont be as much default on their loans. In one way this is a good thing for the common people but on the other the debt is not being paid back any faster. The only hope is that students will no longer default on their loans. I think the biggest step towards preventing further debt to accumulate is the government is no longer going to allow schools with high default rates to acquire federal loans. In a news article titled Student-Loan Default Rate Rises as Federal Scrutiny Grows, the authors John Hechinger and Janet Lorin reported that "Under the new three-year measure, colleges with default rates of 30 percent or more for three consecutive years risk losing eligibility for federal financial aid." Which will be extremely beneficial to taxpayers in the future if there is less default on student loans

http://www.businessweek.com/news/2012-09-28/student-loan-defaults-soar-as-government-scrutiny-grow

Tuesday, September 25, 2012

For-profit colleges

I'm writing my essay on the for-profit colleges and how they are not providing a good enough education for our students. This in my opinion is preventing people from valuing a college education or looking into college because the colleges are misleading college. Also I am looking into how for-profit colleges are creating a college bubble that could be detrimental to the college community.