[JJMcJ]

Private non-profit - Harvard Medical School - very low under 1% default

Private for-profit - Joe's No Good Truck Driving School - maybe 25% or even 50% default

With a spectrum in between depending on quality of school and area of study.

[dragontamer]

The big for profit schools sound like a big name but aren't. Like University of Phoenix.

The sad fact is: the typical American doesn't even do enough research to know if they are going to a private for profit school or a prestigious state school.

They are just happy they 'got into college', nonethewiser that the school they got into is a money trap.