Also in this playlist...
This transcript is automatically generated
-- graduate college across the country the economy is giving them a nine point 1% unemployment rate hasn't yet.
For many leaving for profit schools the future may be even bleaker -- to more dead and fewer prospects for job.
The White House is down to crack down on the shady practices but are they doing and not joining me now David how.
Director of campus progress.
David welcome to the show this is a fascinating story.
And as we even reading it it looks like these for profit colleges.
There really ripping off the taxpayer what's going on here.
They are ripping up the tax -- but even worse -- ripping off students and ruining their lives.
All kinds of young people -- older people people trying to.
Get a new chance to do so with their lives low income people veterans.
Get promised big promises by these schools.
They go in some of the schools are well meaning some do OK some -- really poor quality and some are straight up -- get the students in the seats.
Get their money get their federal financial -- 90% of their money get many -- -- come from federal financial aid.
And then as soon as they're -- get that money they don't care about the student the student is left with -- the taxpayers left with debt and how big profits for these for profit schools.
-- I want to show people our viewers here are some of the numbers that really tell the story.
Four for profit school students.
They make up 12% of higher education students because if -- can't all institutions.
The other 20% of all student loans but they are responsible.
For 46 -- said of student loans in default why is that.
Because they are they have very high prices.
And programs that really many of them do not help students learn gain skills.
And many times the degrees are particularly die able the credits don't transfer so it so what happens is people go into the program.
On big they take -- kinds of loans because they think so they're going places and then they're just not.
-- left with the debt they drop out or even if they graduate even if they graduate.
And get into the kind of program that's been promised the tuition is up and so high that they can't pay their loans even if they have the kind of job they thought they are going to get.
Well I -- seeing some of the numbers on these educations and it's astonishing what people are being asked to pay.
I wanna show our viewers average student loan debt so -- are all students and how much debt they face.
The -- with something like 9000 dollars but this year 27000.
These folks are changing the future of their lives are gonna have to delay getting a house getting married having kids.
I this is really really burdens have.
What do you tell students.
About getting the best bang for their -- what should they be doing.
Well we've met a lot of these young people whose lives have been ruined.
Or other older people in fact his lies have been ruined by getting into this debt.
You've got to look very carefully don't believe the promises of these recruit is one of the important things about the new rules.
The new -- that was issued yesterday isn't tough enough -- there -- whole series of rules and some of them say you can't have recruiters get paid every cut just for assigning people.
-- you've got to tell people to be careful don't believe the promises someone says your program is our program is nationally accredited that's better than statewide accredited.
That's not necessarily true don't believe them when they say.
That our program is the best find out what's really out there would probably say in general I hate to say it but the for profit programs tend to be much worse -- -- Tell me how I know is on the up and up if I'm a student I'm shopping for a school how to -- now.
Well for one thing you can often get better quality education and certainly in a much more reasonable price for some the same programs at a community college.
On the another thing is read your newspaper go online because it.
In one of the good things about this debate going on for the last year as the U all have done your job in the media there's been a huge amount of coverage in the media -- of these schools and which ones are scam.
Well I says -- coming in today and is a fascinating story will continue to cover it we appreciate your bringing us a sense now.
Filter by section