A report released last week shows that more than half of graduates from for-profit colleges had more than $30,500 in college loan debt. The same report, released by the College Board Advocacy and Policy Center, showed that black graduates are most likely to have high debt levels.
Overall, the report found that two thirds of bachelor’s degree recipients graduated with some debt while nearly 17 percent graduated with very high debt levels--$30,500 or more.
For black graduates, 27 percent graduated with high debt levels and only 19 percent graduated without any debt.
Students graduating from for-profit colleges were the most likely to graduate with debt as well as the most likely to graduate with high levels of debt. While 38 percent of the students at public, four-year institutions were debt free, only 4 percent of students from for-profit schools were. Students at for-profit institutions were also four times more likely to have at least $30,500 in debt than their peers at public four-year colleges.
