"Roughly put, a student should be able to work out of their school debt and be able to live with the job that education is supposed to get them."
"Unfortunately, this money was ill-spent: 20% of the for-profit school students defaulted on student loans within three years of entering the repayment period."
"About half of all student loan defaulters went to such for-profit schools, although these schools made up only 13% of the student population."
"Students most often default on loans due to financial hardship. As might be imagined, not earning an adequate paycheck leads to hardship."
Education costs necessitate a return on investment for both students and taxpayers. Students should earn salaries that allow them to manage their education debt. Taxpayers expect students to secure jobs and contribute taxes, supporting future education funding. The rise of for-profit schools aimed to provide affordable education but resulted in high default rates on student loans. Many students from these institutions struggle financially, leading to significant losses for taxpayers due to loan defaults.
Read at A Philosopher's Blog
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