The for-profit education model would work much better if there were no special class of “student” loans, and instead the loans offered were normally dischargeable in bankruptcy. This would cause colleges to charge manageable tuition and bankrupt the colleges that produced graduates unable to pay.
The current situation of student loans is a racket, and for-profit universities like Corinthian exist specifically to fleece the government. Destroying the lives of their students is a byproduct.
The current situation of student loans is a racket, and for-profit universities like Corinthian exist specifically to fleece the government. Destroying the lives of their students is a byproduct.