Many of the largest for-profit schools are boosting their enrollment during these economic times because they are making more loans directly to cash-strapped students. Even though, they recognize many of the loans will probably never be repaid for the amounts that were borrowed.

However, the schools still make money and profit because they increase their enrollment, which brings tuition dollars that are subsidized by the government to the schools. Some schools that have seen their enrollment significantly increase are the University of Phoenix, Westwood College, and ITT. ITT has seen new enrollments rise by 33 percent and seen profits increase 50 percent from last year.

Many of the students at these schools finance their education through tuition grants from the government and take out loans for the rest of their costs. However, with the economic difficulty, it has become more difficult for students to get bank loans, so schools have stepped up and are extending credit to students.

In some cases students are getting better terms, but many have taken loans that are worse. Students need to check around and make sure they are taking the best loan. Go over it thoroughly and understand everything before you sign it.

For-profit schools have seen the proportion of students borrowing at least $40,000 nearly triple to 30 percent. These schools are also showing that 43 percent of students took out private loans in 2007-08. College can be expensive, and students need to prepare for that.

Despite the expense, students are returning to school because they have either been laid off from work or have decided to take advantage of increased government aid. Education is never something that invidividuals resent having. They understand that despite the time, energy, and money it took to earn a degree, it was a wise investment in their future.