Tiffany Roberson works for the state of Texas as a parole officer, teaches part time and is living with her parents after finishing a master’s degree. She’s held off marrying her boyfriend of four years and starting a family because she owes more than $170,000 in federal and private student loans.
For-profit colleges leave students with high debt and inadequate educations that can harm them for years after they graduate or quit school, witnesses are scheduled to testify today at a Senate hearing in Washington.
A bipartisan Senate deal to cancel the doubling of a popular student loan rate by pegging the interest to market fluctuations will have to wait until next week for a vote, while Democratic leaders placate dissenters within their ranks.
The Obama administration approved regulations restricting incentive-based sales practices at for- profit colleges. The release of a draft in June slowed enrollment growth at Apollo Group Inc. ’s University of Phoenix.
Tuition and fees at U.S. public universities soared 8.3 percent this year, twice the rate of inflation, to an average $8,244, a College Board report found. Nonprofit private college costs rose 4.5 percent to $28,500.