College debt is not spread out equally among all students. It is concentrated in certain colleges, such as the for-profit schools. It is also concentrated in certain populations. Kids without top SAT scores, which open doors to well funded colleges, those without financial resources from home, or those who families lack higher education experience are particularly vulnerable. These students are in dire need of advice.
Jordan Weissmann recently showed how the biggest student loan default rate came from the for-profit sector. He said that we need alternatives for the type of student who attends the University of Phoenix, including low-tuition community colleges or true vocational training programs in high schools.
I also believe that untraditional students need more guidance about making higher education decisions. Faculty advisors and administrators do provide some guidance to kids like Lisa about finances -- sometimes directly, sometimes indirectly. A few schools have genuinely innovative reforms that should be replicated. However, students need more help than individual faculty can provide.
Students need administrators, high school counselors, or outside groups to provide them with a cocktail of career, education, and finance advice. They need to understand the penalties that are involved with transferring schools and changing majors. They should meet with the financial aid office, understand the totality of their loans, and know whether or not interest is accruing. Decisions about majors, careers, and universities should be undertaken with care.
- More Here
Jordan Weissmann recently showed how the biggest student loan default rate came from the for-profit sector. He said that we need alternatives for the type of student who attends the University of Phoenix, including low-tuition community colleges or true vocational training programs in high schools.
I also believe that untraditional students need more guidance about making higher education decisions. Faculty advisors and administrators do provide some guidance to kids like Lisa about finances -- sometimes directly, sometimes indirectly. A few schools have genuinely innovative reforms that should be replicated. However, students need more help than individual faculty can provide.
Students need administrators, high school counselors, or outside groups to provide them with a cocktail of career, education, and finance advice. They need to understand the penalties that are involved with transferring schools and changing majors. They should meet with the financial aid office, understand the totality of their loans, and know whether or not interest is accruing. Decisions about majors, careers, and universities should be undertaken with care.
- More Here
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