Rising college loan default rates

elodyCOH
Sun, 26 Aug 2018 17:08:23 +0000

@emptynesteryet Some of the issue is the for profit schools, and lending to 17 and 18 year olds who don’t understand what they are getting into when they take on this debt. They aren’t old enough to drink or vote, but they can take on all sorts of debt that may be ill-conceived. They don’t get enough loan money to actually finish a degree, and then they can’t pay it back. It’s a pretty vicious cycle. Personally, I think there needs to be much more transparency given to the student in understanding whether or not they can actually finish school based on the money available to them when they start. If a four year college isn’t possible - the student should be told that.