Political Quotes

“Madam President, the College Board recently released its annual report on trends in college pricing. What the report found was more students in debt with higher amounts of debt than ever before. The biggest offenders? No surprise, for-profit colleges. Study after study continues to show that for-profit college students fare far worse than their peers who graduate from public or private nonprofit colleges. For-profit college students have more debt and oftentimes they graduate with worthless degrees and no way to even repay their debt. The College Board report found that for-profit institutions accounted for 12 percent of all students enrolled in 2008-2009, 28 percent of those who entered repayment of their loans in fiscal year 2009, and 47 percent of those who defaulted on their loans by the end of September 2011. Madam President, 12 percent of students; 47 percent of the defaults--for-profit schools. Why? They charge too much. The kids get too deeply in debt. The diplomas are worthless or the kids drop out of school because they cannot afford to finish. Another report recently released by the Institute for Colleges Access and Success found that for-profit college students take out more private student loan debt than their peers. Private student loans are tough. They are burdensome. They do not come with any of the consumer protections that Federal student loans come with, such as flexible repayment plans or loan forgiveness for public service.…”