The diploma mill profiteers

posted by
April 17, 2011
CounterPunch
by Mike Whitney  
Posted in Commentary

"Student loans are a big business. In fact, student debt now exceeds $895 billion which is more than the total Americans owe on their credit cards. And, most of these loans are underwritten by the US government, which means that the taxpayer is on the hook when students can't repay the debt. This is a big problem, because many of the people taking out loans are not really qualified for college, so they end up dropping out of school and defaulting on their loans putting themselves in long-term debt while passing the bill along to Uncle Sam. But not everyone loses on the deal." (04/15/11)

http://counterpunch.org/whitney04152011.html  

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