Subprime for Students

[aka name]

Title: Subprime for Students - Why does so much federal money go to for-profit schools—and what happens when the system crashes?
Date: June 17, 2010
Author: Mark Gimein

[Explains how for-profit education is like subprime mortgages (based on a report by investor Steve Eisman)]

As it stands now, for-profit schools are one of the economy’s embarrassments for believers in free markets. They have every incentive to skimp on the costs of education [...] while collecting as much they can in tuition by encouraging students to max out their loans.

Source: http://www.thebigmoney.com/articles/mon ... s?page=0,2