The problem, from a regulatory standpoint, is that they borrow a lot of money to obtain the degree — over $78,000 on average, according to the university. The total tuition is $62,593. And because it’s a graduate program, students can also borrow the full cost of their living expenses from the federal government, regardless of their credit history.
After accounting for basic living expenses, the average Harvard A.R.T. Institute graduate has to pay 44 percent of discretionary income just to make the minimum loan payment.
Related: Math Forum audio/video
Madison’s 2009 (!) Math Task Force
More regulation simply makes things worse. Why not make sure that students can adequately assess the cost and benefits of their choices?