Student-Loan Debts Are Highest, and Most Prevalent, at For-Profit Institutions

HOME: ▶ Almanac 2011	SECTIONS: ▶ Finance	▶ The Profession	▶ Student Demographics
	▶ Access and Equity	▶ Technology	▶ International

Students who earned their bachelor’s degrees at for-profit institutions were more likely to borrow, and to accumulate bigger debts, than those who attended public and private nonprofit colleges.

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HOME: ▶ Almanac 2011	SECTIONS: ▶ Finance	▶ The Profession	▶ Student Demographics
	▶ Access and Equity	▶ Technology	▶ International

Students who earned their bachelor’s degrees at for-profit institutions were more likely to borrow, and to accumulate bigger debts, than those who attended public and private nonprofit colleges.

Bachelor’s-degree recipients, 2007-8
Institution type	Dependent students, by family income						Independent students
	Less than $30,000	$30,000 to $59,999	$60,000 to $89,999	$90,000 to $119,999	$120,000 or higher	All
Median debt
Public 4-year	$16,500	$17,400	$17,000	$16,300	$14,500	$16,600	$20,000
Private nonprofit 4-year	$21,000	$23,100	$21,100	$22,000	$18,000	$21,100	$24,600
For-profit	$30,500	$24,600	$34,600	$28,000	$34,300	$30,000	$32,700
Percentage with debt
Public 4-year	68%	69%	61%	52%	40%	57%	68%
Private nonprofit 4-year	84%	83%	75%	68%	74%	69%	74%
For-profit	99%	99%	99%	99%*	99%*	99%	95%
* Small sample size
Notes: Total debt includes both federal and nonfederal student-loan debt, excluding parent loans. Median debt levels are only for students who borrowed.
Source: Analysis by the College Board of U.S. Education Department data