Report Looks at Federal Debt of Dropouts

April 10, 2013

An analysis released Tuesday by the National Center for Education Statistics found that students who took out federal loans but later dropped out had a median federal debt load equal to 35 percent of their annual income, and that dropouts from for-profit colleges borrowed the most per credit earned: $350 per credit, compared with less than $120 per credit for students in other sectors. The report looked at student debt for students who enrolled in college in the 2003-04 academic year but did not complete within six years. It also found that 21 percent of noncompleters from four-year private nonprofit colleges, and 31 percent of students from for-profit colleges who did not earn a credential, had student loan debt greater than their annual income.

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