| Author(s): | Nguyen, M. |
| Title: | Degreeless in debt: What happens to borrowers who drop out |
| Source: | http://www.educationsector.org/sites/default/fi... |
| Date: | 2012 |
| Organization: | Education Sector |
| Short Description: | It's not just those who graduate who have student loan debt to repay. Those who do not graduate also take out loans and have to repay them. Thus, many of those who drop out are saddled with high loan payments even as they are more likely to be unemployed and earn less than their degree-holding peers. When they default, as many do, they experience devastating financial consequences. |
| Annotation: | Facing heavy debt burdens, a tough economy, and poor job prospects, many college graduates are questioning the value of their college degrees and wondering if they will be able to pay back their student loans. If the past is an indication of what is to come, the answer is “probably.” While debt is a serious problem for a growing number of college graduates, degree-holders tend to bounce back the quickest after a recession. In the long run, most college degrees are worth the money. But it’s not just those who graduate who have student loan debt to repay. Those
who do not graduate also take out loans and have to repay them. Thus, many of those who drop out are saddled with high loan payments even as they are more likely to be unemployed and earn less than their degree-holding peers. When they default, as many do, they experience devastating financial consequences. |
| Link: |
View Full Text
|
