The College Debt Crisis - Special Report

College kids were enjoying pizza and beer, and paying for it all with a debit MasterCard. But this was not any debit card. The funds behind it come from student financial aid.

The dramatic rise in student debt—and in student loan defaults—could leave the American taxpayer on the hook for hundreds of billions of dollars.

Once the darlings of Wall Street, for-profit education companies have seen their market value plunge under renewed scrutiny of their business practices.

Call it one of the dirty little secrets of the education industry: When students can’t pay their loans, many schools manage (some would say, manipulate) default rates so they look better than they really are.

For-profit colleges may have unusually high student dropout and loan default rates, but their CEOS receive enormous compensation packages.

The Education Department is trying to crack down on high dropout and default  rates at  for-profit colleges and universities..

Schools offering a more career-oriented approach are enjoying double-digit growth, fueled by a sluggish economic recovery, accelerated stimulus spending and a more practical student mindset.

That's the costs for four years at Sarah Lawrence College In New York State. Find out how it all adds up at America's most expensive institution of higher learning.

From Oxford in England to Erasmus in The Netherlands, overseas universities are targeting US students with their lower tuition costs.

Education Secretary Arne Duncan says millions of students do not take full advantage of federal student aid and rejects the notion that the administration is pushing student borrowing in the way that previous ones pushed home ownership—with disastrous results.

Taking simple steps to save and search for college funds may not cover the full freight, but it can at least make tuition and other expenses a little more affordable.

You can promote yourself online and seek donations or donate parts of your body for hefty fees.

Getting hired has been tough for graduates these last few years, but it looks like things are looking up—especially for a few professions.