Posted on 03/17/2018 8:16:50 AM PDT by george76
At Everest College in Everett, nearly 30 percent of borrowers who started repaying student loans in 2014 defaulted on those loans by the end of 2016, according to the latest disclosure from the U.S. Department of Education.
The data includes students at schools receiving federal student aid who entered repayment on selected federal loans in 2014 and defaulted before the end of the second fiscal year.
In Colorado, 82 institutions reported 100,449 students entered repayment on student loans. And 11,204 – or 11.2 percent – defaulted on those loans.
(Excerpt) Read more at watchdog.org ...
Colorado Ping ( Let me know if you wish to be added or removed from the list.)
Everest College Minority enrollment is 54% of the student body (majority Hispanic and Black), which is more than the state average of 36%.
High minority rate, high default rate.
Anyone surprised?
I’m surprised it is as low as 11%.
Thanks for the ping.
I thought it would be higher too. These kids don’t realize this debt can’t be dischaged in bankruptcy and will follow them forever. Someday they’ll be whining about how unfair it is.
The rate is a lot higher for students at some institutions.
Per chart at link, Everest College for example, has a 29.9% default rate.
Good point.
I’m sure it is.
This is why the appearance of redlining minority neighborhoods developed. And, making political hay of it, Clinton and Obama pressured banks into extending dodgy loans on the basis of race to make up for previous perceived errors, in effect raising defaults, and hence the cost of borrowing for everyone else.
I’m surprised it is that low.
Student loan default rates are three to four times the national default rates for single family home mortgages or credit cards.
The rest of us get to take up their payments.
Amazingly, the very next thread on FreeRepublic this morning, from Coach’s Team, has the best answer for this:
“How can the federal government ask U.S. citizens to pay back student loans, when illegal aliens are receiving a free education?”
Democrats learned how to keep slavery without whips and chains, and debt relief promises will keep them in power.
I didn’t think students loans could be defaulted. Silly me.
Anyone who can walk away from a hundred thousand dollar debt will be sorely tempted to do so.
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