Tag Archives: education
Student Loan Debt Spirals at For-Profit Colleges (Page 1 of 2)
Despite the publicity in recent years surrounding an ostensible “student loan crisis” that has saddled a generation of college students and their parents with overwhelming amounts of student loan debt, a large number of college students are actually graduating with little or no debt from student loans, newly released data has revealed.
However, the likelihood that a college student will take on any student loan debt depends largely on the type of school he or she attends, with students at for-profit career schools, online schools, vocational training programs, and other for-profit institutions tending to rely on student loans in much higher proportions.
Many College Students Eschewing Student Loans
About one in three college graduates leaves school without any debt from student loans, according to data compiled by the U.S. Department of Education as part of its National Postsecondary Student Aid Study, which is conducted every four years.
Of those students who earned a bachelors degree in the 200708 academic year, 34 percent graduated with no debt from student loans a figure that has held steady over the past four years. Of those students who earned either a two-year or four-year degree or certificate, 41 percent graduated with no student loan debt.
The For-Profit Exception: Student Loan Debt Saturates Career Schools
A breakdown of the NPSAS student loan debt data, however, reveals that student loan borrowing diverges widely across types of higher education institutions, with students at for-profit colleges borrowing money for their education more often and in larger amounts.
Virtually all for-profit students are graduating with at least some debt from college loans.
Among graduates of two-year associate degree programs, for example, whereas only 38 percent of those in public programs left school with at least one education loan, 98 percent of those in for-profit programs did so.
Among graduates of two-year certificate programs, only 30 percent of students in public programs left school with education debt, while 90 percent of students in the for-profit programs did so.
Of those students who earned bachelors degrees, 62 percent of those in public four-year programs and 72 percent of those in private four-year programs graduated with debt from student loans, while 96 percent of students in for-profit bachelors programs did.
More Private Student Loans Seen at Career Schools
Students in for-profit programs were also more likely than their private and public counterparts to leave school with debt from non-federal private student loans.
Overall, 30 percent of students earning a higher education degree in 200708 had taken out private student loans. But the percentages were much higher among students of for-profit schools.
Among graduates of associate degree programs, 60 percent of those in for-profit programs had taken on debt from private student loans, compared to just 15 percent of those in public two-year programs.
How to get best school grants for quality education
Educational costs are increasing day by day. And it is becoming hard for an average person to get quality education. But for students who are interested in getting quality education like technical, mechanics, electronics or some other higher education it is easy to get it through school grants.
School grants are bit different from loans. Best part of getting education this way is that it does not require you to pay back the money you have taken for getting the education. If you are looking for jump starting your professional career and find it hard to fund education, grants is a way by which you can get your dreams come true.
In general school grants enables you to get quality education without worrying about paying back the money. These schools allow needy but talented students to get education and make their dreams come true. There are number of federal as well as private colleges and institutions that allow grant education. But as federal grants only are not enough to fund the education for all the aspiring students, it is advisable that you should look for some private institutions as well.
Various associations, institutions and organizations are available that are willing to provide the necessary help for bright students. Most of the people think that it is difficult to find these institutions but with the help of internet and search engines you can easily look for them online. As there is tough competition between the aspiring students, getting a private school grant may be a tough job. But if you are well planned and try early you can get it all the way.
First of all you should find some of the best institutions and colleges that provide you grant education. Fill out all the necessary forms and submit the application as early as possible. You have to demonstrate your financial need at the time of application, so be ready for it and prepare all your papers and documentation well in advance. Not only your financial need, but you have to also demonstrate that you are a bright student for the college by providing your unique academic records.
It is also essential that you follow all the guidelines and instructions while applying. You should also look for the limitations of the courses or programs that some of these colleges or school grants may have. This all will surely help you get best education by the best institution to enlighten your career.