Many students that are attending for-profit colleges and universities are getting into excessive amounts of student loan and credit card debt. Credits earned at for-profit schools are usually very difficult to transfer to non-for-profit colleges and universities because not all for-profit schools are regionally accredited. As a result, all the credit hours students did at the for-profit schools go to waste and they got themselves into debt for no reason at all.
In addition, students that earn degrees from for-profit schools that have no regional accreditation struggle to earn jobs because employers often verify the accreditation of the school. In the eyes of the employers, students that earned degrees from schools without regional accreditation are uneducated. Students struggling to earn jobs causes them to default on their debts and this damages the economy as a whole.
