For-profit college attendees are more likely to incur unmanageable student loan debt and be unable to graduate than their peers attending other schools, according to new research released today by the Center for Responsible Lending. African-American and Latino students in particular have a high risk of experiencing these poor outcomes at for-profit colleges, which have a long record of engaging in deceptive practices to pressure students to enroll.
"Our research shows the urgent need for the Department of Education to issue a strong Gainful Employment rule regulating for-profit colleges," said Leslie Parrish, deputy research director at CRL. "Students of color, who are often the first in their families to go to college, enroll in for-profit colleges at higher rates than other students. But many for-profit colleges create risky debt and produce poor educational outcomes, despite the hard work and money that these students are willing to invest in their educations." - Yahoo Finance