Student Loans Give Rise to Hidden Billionaire in Brazil

By Blake Schmidt. A month after Dilma Rousseff took office in January 2011, the Brazilian president vowed to step up subsidized loans for students attending the nation’s for-profit universities. The initiative was a bid to expand access to training for an emerging middle class that grew by 40 million people in a decade. Since then, about 8 million people have received state-sponsored scholarships and another 1 million were approved for student loans. More...