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For-profit education stocks show sharp losses after a Senate report (.pdf) widely criticizes the...

For-profit education stocks show sharp losses after a Senate report (.pdf) widely criticizes the industry. Summing up the report quite nicely is the stat that while for-profit schools enroll only around 10% of students for higher education students in the U.S. - they account for nearly 50% of all student loan defaults. Falling the hardest: EDMC -9.1%, CECO -7.4%, ESI -7.4%, STRA -6.1%.
Comments (4)
  • Critizing these companies goes a long way, but let's not forget why people get so desperate to sign up for financial slavery for the rest of their lives.
    30 Jul 2012, 02:45 PM Reply Like
  • All schools are for profit, lol. And Congress is the biggest scammer, trumping up student loan interest increases for political gain. In fact, the increases only affect a small percentage of "students". In fact, the entire industry is in a bubble, just as housing was a few years ago. In fact, schools will continue to raise prices as long as cheap loans are available.
    30 Jul 2012, 02:56 PM Reply Like
  • "let's not forget why people get so desperate to sign up for financial slavery for the rest of their lives. "

     

    Are you referring to marriage here?
    30 Jul 2012, 02:57 PM Reply Like
  • Love watching these EDMC scamster stocks dive into the toilet! All they had to do was to provide a decent education and not lie to students ... oh right ... that last part is just too difficult!
    30 Jul 2012, 03:04 PM Reply Like
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