Drowning in Debt: Financial Outcomes of Students at For-Profit Colleges - Tapa blanda

Four years ago America was caught off guard by the subprime mortgage crisis. Fast talking sales people deceived consumers into taking out loans that they knew would never be paid back and financial speculators hid the risk and passed the debt off to investors. What has become clear over the past year, through this committee's investigation, is that there is a class of subprime colleges within the for-profit sector that are doing the exact same thing. Instead of packaging these loans into securities and selling them to investors, this time they are passing the debt off to American taxpayers in the form of federally guaranteed student loans.