Simply choosing a university is more complicated today than it has been in the past. The market includes many types of higher education institutions, and students must decide which can best meet their educational needs. To better understand and serve the financial needs of student-members, credit union lenders can use this guide.
The Institute for Higher Education Policy’s study of student loan delinquency, featured in September’s Credit Union Magazine, studied five types of higher education institutions: public four-years, for-profit four-years, private nonprofit four-years, public two-years, and for-profit two-years.
Here’s a quick look at the differences between nonprofit and for-profit schools, and public and private schools: