Seniors at for-profit colleges are more than twice as likely to have accumulated dangerous amounts of education loans as seniors at other kinds of four-year colleges, according to a new report.
Almost 30 percent of seniors at for-profit universities in 2008 owed at least $40,000 in college loans, an amount that could be excessive, according to a new analysis of the latest federal data by Mark Kantrowitz, publisher of Finaid.org and Fastweb.com. For comparison, only about 11 percent of seniors at private nonprofit colleges—many of which charge higher sticker prices than typical for-profits—graduate with excessive debt, Kantrowitz found. And excessive debt was a problem for only about 6 percent of seniors at public universities, which are typically comparatively lower priced. That means new graduates of for-profit schools are about five times as likely to have borrowed heavily as new graduates of public universities.
Sunday, May 24, 2009
Want As Little Debt As Possible When Graduating From College?
Short of going to a service academy, having rich relatives who will spring for everything, or getting an awesome scholarship, graduating with as little debt as possible is probably a big concern. How might one accomplish this? Perhaps by reading this article, and responding accordingly :-)