Looking at the student loan defaults rates by state, one is struck by how much the defaults are concentrated in the South East. Why would this be so?
But nothing is as shocking as how badly the for-profit institutions do. I think some sober looks at these numbers make sense before we conclude that for profit is automatically better, especially given that student debt is large and can no longer be discharged by bankruptcy.
Paul Krugman: China’s Naked Emperors
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