University Degrees Don't Pay for Themselves.
Maybe it's time for the Feds to back out of the picture and allow the cost and focus of Higher Education to re-align itself to the reality of the country and job market.
Forty-one percent of federal student loan borrowers who started repayment in 2005 have either defaulted on their loans or have been delinquent on their loans at some point, according to this report.
The study found that although 15 percent– or 258,404 students representing $3.2 billion in loans – actually defaulted on their loans, the percentage of people who have trouble repaying their loans, but never actually default, is much higher.
Maybe it's time for the Feds to back out of the picture and allow the cost and focus of Higher Education to re-align itself to the reality of the country and job market.
Forty-one percent of federal student loan borrowers who started repayment in 2005 have either defaulted on their loans or have been delinquent on their loans at some point, according to this report.
The study found that although 15 percent– or 258,404 students representing $3.2 billion in loans – actually defaulted on their loans, the percentage of people who have trouble repaying their loans, but never actually default, is much higher.
Twenty-six percent – or 454,000 borrowers, representing $8.5 billion in loans – were delinquent at some point, but never defaulted.
According to the study 750,000 students are having difficulty repaying their loans in a timely fashion.
Conclusion: The cost of a higher education degree is higher than the return on the degree.
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