In an interview Tuesday on Bloomberg TV’s “In the Loop With Betty Liu,” Career College Association President Harris Miller discussed the current state of student loans at for-profit colleges. Following the U.S. Department of Education’s release of data last week on loan repayment rates at private sector schools across the country, Miller stressed the need to really understand the data before moving forward. He also highlighted the importance of focusing on the larger picture – why is the Department of Education going to cut access to hundreds of thousands of students?
I agree with President Miller. Understanding the data and its implications is a point I have argued before in this blog. Yes, student debt is a problem, but it should not lead us to deprive some groups of students of their right to an education, nor should it lead us to risk becoming an even less competitive country in terms of graduation rates from colleges and universities. If the goal of the Department of Education is to resolve the problem of growing student debt, it has far more analysis and examination to do in order to solve the problem.
Penley on Education and Energy 
It does seem like the solution to the problem will create new problems and the ones who will get hurt are the students. The for-profit universities also have a problem on their hands of having a tarnished image. I’m not sympathizing with them, but to simply point out that they can do the right thing and regain the public’s trust. One suggestion would be to refund the students’ money, which will probably not happen, but to offer those students who dropped out the opportunity to come back (for free) and mentor or advise them – like they should have done. At least with a degree in hand the students might be able to find a better job or earn a promotion – which was their original intent.