Bear Wisdom

It appears that the 17.2% U6 unemployment rate is having an effect on graduates being able to pay back their school loans, as jobs are becoming even more scarce these days.  Many of these students pay up to $60-80k for their education, from for-profit schools, such as ITT.  Then they receive their BS/BA degrees, just to graduate with a truckload of debt, and no job.  It’s no wonder why many of them defaulting on their school debt.

From the WSJ:

“Students who took out government loans to pay for their education at for-profit colleges had a 21% default rate in the first three years they were required to make payments, about three times the level of four-year public and nonprofit institutions, according to a Wall Street Journal analysis of government data scheduled for release Monday.”