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On Campus Blog
Alex Friedrich

Why for-profit colleges didn't appear on last week's debt report

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After I ran a few posts and charts last week on this years' Project on Student Debt report and an interpretation of the Minnesota data, Minneapolis College of Art and Design spokesman Rob Davis pointed out this part of the report:

A Note on For-Profit Colleges

Private for-profit colleges are not included in the lists

of high- and low-debt colleges or in the state averages

because so few of these colleges report the relevant debt

data. Debt figures for the Class of 2010 are available for

only five of the 471 private for-profit four- year colleges

in the U.S. that awarded bachelor’s degrees during the

2009-10 year, about the same low level of participation

as the previous year. For-profit colleges do not generally

respond at all to the Peterson’s survey used to collect the

data we use in this report. (For more about this survey see

page 10.) The most recent nationally representative data

show that almost all graduates from for-profit four-year

colleges (96%) took out student loans, and they borrowed

45 percent more than graduates from other types of fouryear

colleges.*

* See Quick Facts about Student Debt (http://projectonstudentdebt.org/files/File/Debt_Facts_and_Sources.pdf) for more information.

(MCAD was reported among the Minnesota privates whose students have the most debt.)

The message (as I understood it)?

Don't forget the for-profits. Students from for-profits have a much higher debt load, but because those schools don't participate in the report, they're flying under the radar.