Grads of For-Profit Schools Have Debt Trouble

Many leave unable to pay
A jobs fair sponsored by Careerbuilder and the University of Phoenix in this 2009 file photo.   (AP)

(User Submitted) – The DOE has released loan-repayment numbers for 8,000 American colleges and universities showing that graduates of for-profit schools face bigger debt loads than their counterparts at nonprofit and public schools; and they are less likely to repay their loans, reports

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High-profile University of Phoenix had the most students unable to repay. In 2009 about $5 billion was owed, but only 40% of the 350,000 Phoenix students who started payments are in good standing. At DeVry, the figure is 38%; students leave with an average of $12,000 of federal student loan debt. The figures come as Congress has begun taking a closer look at the industry. Read the full article here.

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