Monday, August 24, 2015

Borrowing For College Set To Hit 5-Year Low in Part Because of Declining enrollment - Shahien Nasiripour, Huffington Post

Much of the drop in borrowing is likely due to slightly lower enrollment, and less borrowing by students at for-profit schools. Some 20.3 million students were enrolled at America's colleges and universities last autumn, fewer than in previous years, according to Education Department estimates. In 2010, enrollment stood at more than 21 million students. Borrowing by for-profit students is down from $10.1 billion last year, to $8.6 billion, according to figures through March. State and federal regulators have sued large for-profit college chains in recent years for allegedly misleading students -- one of them, Corinthian Colleges Inc., filed for bankruptcy -- and the Obama administration recently finalized rules that attempt to cut off federal student aid to dodgy career programs.

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