Think of this as the other side of the coin. According to an article in the Chronicle of Higher Education, several colleges have default rates on their students in the 40 percent range. This means that 40 percent of people who attend the school do not begin to pay off their loans when they come due.
The colleges with the highest default rates in the United States are not exactly household names but they’re also not terribly hard to find, especially since many appear to specialize in online classes. The ten worst default schools are:
The College of Office Technology in Chicago, Ill. (47 percent default rate), College America in Flagstaff, Ariz. (46 percent), Angley College in Deland, Fla. (44 percent), Lamson College in Tempe, Ariz. (44 percent), Lincoln Technical Institute in West Orange, N. J. (42 percent), Tesst College of Technology in Beltsville, Md. (42 percent), Huntington Junior College in Huntington, W.Va. (41 percent), Texas College in Tyler, Texas (41 percent), Jarvis Christian College in Hawkins, Texas (40 percent), and the Arizona Automotive Institute in Glendale, Ariz. (39 percent).
Except for Texas College and Jarvis Christian, these are all for-profit institutions.