FOR-PROFIT DEGREE LIKELY MEANS HIGHER DEBT: More students are attending and graduating from for-profit colleges — and they’re more likely to take on more debt and less likely to have a job after they earn their degrees.
— That’s according to new federal data out this morning that looks at the employment and educational experiences of students who graduated in 2016, one year after they earned their degrees. It’s the first time the Education Department has released such data in eight years, and critics of for-profit colleges are sure to seize on the findings. Read the full report.
— The number of students graduating from for-profit colleges rose from 4.6 percent of all students in 2008 to 6 percent in 2016. Nearly 85 percent of them borrowed to attend, compared to 65 percent of students who graduated from public colleges and 69 percent who attended private nonprofits. For-profit graduates borrowed much more than their peers — $43,600 on average, compared to $27,900 borrowed by public school grads and $32,500 by private nonprofit graduates.