Graduate Student Loans - 7/29/15
A new study from the Center for American Progress finds that twenty universities received one-fifth, or six point five billion dollars, of the total amount of loans the government supplied to graduate students during the twenty thirteen twenty fourteen academic year. Though these twenty schools were associated with a fifth of government supplied school debt, they only educate twelve percent of all graduate students.
A reported by the Washington Post, what’s most striking about the Center’s findings is that a majority of the debt taken to attend these twenty universities is not for law or medical degrees that offer the prospect of large paydays. Most graduate students at these twenty schools are seeking master’s degrees in journalism, fine arts or government. It comes as little surprise that among the list of twenty schools are pricey private schools like New York University, Georgetown and George Washington.
But eight for-profit institutions, including the University of Phoenix and Capella University also make the list. Who is at the top of the list? Students collectively borrowed the most amount of money, 756 million dollars, to attend Walden University, a for-profit school that specializes in offering graduate degrees in education, healthcare and business.