Podcast: Play in new window
Victor Gregory teaches high schoolers about cars. He worries when they take on debt after graduation.
Americans owe close to a trillion dollars in student loan debt. Changing Gears has been reporting on that debt, a lot of which comes from attending private, for-profit schools. They’re the fastest growing part of higher education, popular for non-degree technical training. Call them career colleges, technical schools or trade schools … just don’t call them cheap.
Fact: For-profit schools cost more than community colleges. Fact: For-profit students borrow more, then default more than students from public colleges. Fact: All this explains why I ended up at the strip club in Detroit.
So I’m at Cobra’s the Grind, eyes-avoiding-buttocks, walking up dimly lit stairs to meet the manager. Steve is a big guy; he started here as a bouncer. He lays his gun down next to us as we talk. He had different life plans after graduating high school in 2006. Continue reading