A New Look at Who Defaults
August 2, 2012
A new survey by the National Consumer Law Center seeks to focus on the characteristics of students who default on their loans. Among the findings:
- 80 percent are unemployed.
- 85 percent receive public assistance.
- Nearly 65 percent attended one or more for-profit institutions.
- Only 47 percent completed their education.
- Education Department releases default data on controversial Parent PLUS loans
- Default rate on federal loans ticks down slightly; 21 colleges face sanctions for high rates
- Trouble Ahead on Student Loan Defaults
- Consumer Financial Protection Bureau sues ITT, alleges predatory loan scheme
- Students and grads of for-profit colleges praise experience, question investment
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