Not surprisingly, students at proprietary schools are far more likely to default on their loans than those at other colleges
Leveque’s story is far from unique. Each year, more than two million Americans enroll in for-profit colleges, also known as proprietary schools, and their popularity has only grown since the financial crisis. While traditional four-year colleges are struggling with dwindling student bodies and budget payday loans Brunswick open sundays gaps, proprietary schools are reporting record enrollments as the newly unemployed try to retool their skills so they can wade back into the job market. Some of the largest for-profit chains say their numbers have doubled over the last year.
According to a College Board analysis of Department of Education data, 60 percent of bachelor’s degree recipients at for-profit colleges graduate with $30,000 or more in student loans-one and a half times the percentage of those at traditional private colleges and three times more than those at four-year public colleges and universities. Read more