With high student loan debt burdens making the news, it's important to distinguish non-profit (whether public or private higher education) from profit-making institutions who exemplify so-called "free enterprise" gone amok which, according to a U.S. Senate report, result in:
- Staggering investment of tax dollars
- Sky-high tuition
- Predatory recruiting
- Too many students leave with debt, but no degree
- Billions in taxpayer dollars diverted to marketing, executive salaries, and profits
- Gaming the regulatory system to maximize profits
Borrowing to invest in your human capital to enhance your future earning power (along with making you an educated adult) can make sense. But For-Profit colleges are often a poor choice. Consumer Due Diligence is strongly recommended. For-Profit institutions are often toxic for taxpayers as well as for students.
Going to college with a financial plan is extremely important. Personally, I didn't have a financial plan when I went to college, and because of it, I had to deal with lots of financial struggles afterwards. It seems to me that many people make decisions without having the facts. Therefore, do your research, have the facts, and then, make the right decisions.
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