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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.

default rate on federal student loans

Universities that are private and for-profit school are not all exactly on the level, which is why scholars should be cautious if considering one. College often has to be funded with some unsecured loans of some sort. Private for-profit schools have higher student loan default rates and clash with the authorities regularly. Students should do their homework before going to, though many for-profit schools are perfectly fine.

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

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.