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According to the information presented by the US Department of Education, 25% of students attending for-profit schools have defaulted on the taken student loans. In fact, it turned out that the level of default on student loans is higher for students attending for-profit, private university. And only 11% of students attending public school have defaulted on their loans.

Debt on student loans increases constantly. It has even outpaced credit card debt. Default rate grow, especially in for-profit colleges.

Student loan debt may increase up to $1 trillion by the end of 2011. The current amount has already surpassed credit card debt rate.

The main problem concerning student loans consists not only in the fact that education is more expensive than ever, but also the factor of recession plays an important role as it's really the hardest time for college graduates who find it really difficult to get decent employment and earn enough for their loans repayment.

Consider that higher education isn't the ticket to a guaranteed job like it once was. Consider also that education costs have been rising far above and beyond core economic inflation, making it arguably less valuable. Student loans are the one debt that Americans can't get out of.