Half Of People Who Went To College In The Recession Haven’t Graduated

[al2simon]

@bclintonk

It was in these latter categories—for-profit colleges, part-timers, older students, and community colleges—that enrollment surged during the recession, and that in itself drove most of the decline in the overall graduation rate, because the overall student pool was weighted more heavily toward the types of students who are least likely to graduate.

This is an incredibly important point.

Gullible students want opportunity, too. Where would these students aspirations for higher education be if we clamp down on their financing options?

However, the story isn’t always just as simple as “evil for-profit” exploits “gullible student”. That happens a lot, of course.

But sometimes the story is “evil for-proft” and “partially evil student” both exploit the taxpayer. The student applies for Federal grants and loans. They get to use this money to pay for an apartment, food, and other living expenses. It’s a way to fund a (minimal) lifestyle for a few years; the student may have little or no intention of actually getting a degree as long as the money keeps on flowing. The school is very happy to go along and bend over backwards to keep the student in good-standing because they get their slice of the pie too.

Students who can’t find jobs may also resort to doing this. Of course, the student ends up with loans and no degree. Many will default, and it’s all you suckers who work for a living who get stuck with bill.