From Barrons: "Defaults were about twice as high among for-profit alumni as among the alumni of public colleges, and three times the level of non-profit alumni - according to the government numbers on those who started repayment in 2007. More worrisome, the Education Department says defaults of the for-profits' students get much worse over time, rising above 23% of individual loans after four years, compared with 10% for public alumni and 7% for nonprofit alums. This reminds me of the "liar loans" that helped create the housing bubble, said California Democrat George Miller, chairman of the House Education and Labor Committee, at a hearing last month where government investigators told how a for profit company's testers helped applicants pass an entrance exam. They end uf defaulting, fumed Miller, with ruined credit reports and all their problems got worse."