A large part of the problem is all the shitty for profit schools. They get students to take out large government backed loans, then are defaulting, since they can't actually get a job.
I knew several people I grew up with who went to these schools. They took out huge loans, 10k plus, and they never landed any kind of job with their "certificates" / degrees.
[1] Half of all defaults are from these kind of schools.
I knew several people I grew up with who went to these schools. They took out huge loans, 10k plus, and they never landed any kind of job with their "certificates" / degrees.
[1] Half of all defaults are from these kind of schools.
[1] http://www.businessinsider.com/career-education-corp-will-pa...