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For-Profit College Grads Also Earn a Life of Debt

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Amy Jan 12, 2011 1:52 PM GMT I am a "Career College" graduate and can say that I received a top notch education, enjoyed small classrooms and one on one interaction with my professors. I am lucky in that my MBA was paid for by my employer, but I had a choice between a private college or a public university. I choose private because I wasn't a number, I got a flexible schedule that fit with my lifestyle and accelerated courses kept me on track with my goals. For profit or privately held colleges do a lot of good things for a lot of people. Instead of focusing on the default rates (which is really a result of the student's action and choices) why not look at some of the success stories?
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bill gates Jan 8, 2011 8:08 PM GMT college degree fraudcollege degree ponzi scheme100% of 18 year old can now go to college... Anyone Anytime can now go to college...college is New High School....go for parties... but college degree is New high school diploma
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Alan Collinge Jan 7, 2011 1:02 PM GMT An IG estimate in 2003 estimated 4 year college, community college, and for profit college default rates to be 25, 35, and 45% respectively. Recent default data I've seen on the for profits seems to verify that part of the estimate, so if the others follow, I would say that the other schools are definitely not much better. The spread between them is probably narrowed further still if one considers the different demographics each serves. I'm no fan of the for-profits. But the CCs and 4-year schools are certainly not much better in terms of defaults. Standard consumer protections like bankruptcy, at a minimum, simply must be returned to this lending system. Only then will the motivations be re aligned with the interests of the students, instead of against their interests. Come to studentloanjustice.org to see more.
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