The average college tuition debt is $23,200 and in light of this there are some things that the average student can do to keep debt down. Loan default rates are very high at for-profit colleges so students need to think about where they are enrolling so that they can keep their debts low.
Recently, about 80 student borrowers sent in their photos showing their college debt at the invitation of Huffington Post’s new college site. This will become a part of a new story that profiles recent graduates with large debt in the paper’s new section. It is expected that the piece will get a lot of attention as people all across the US are worried that soon students will not be able to attend college.
It was found that student characteristics do indeed matter but they are not the only predictor of a school’s default rate. Institutional characteristics-especially a school’s ability to retain and graduate students is very important in reducing student loan default rates. The report also found that some schools do a better job than others in keeping students enrolled.
Students should look at statistics like these and enroll at schools that have a good graduation rate.
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