As the calls for for-profit private education institutions get louder, here is one data point to take heed of: A 511% rise in student loans 1999 in the USA.
Obviously the number of students didn't grow by 511%. So why are education loans growing so rapidly? One reason could be availability. The government's backing lets credit to students flow very freely. And as the article from yesterday noted, universities are raising tuition aggressively since students are willing to pay more through those loans.
And the state of for-profit colleges over there is uncovered here: For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud and Engaged in Deceptive and Questionable Marketing Practices.
And as the article from yesterday noted, universities are raising tuition aggressively since students are willing to pay more through those Payday Loan.
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