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[53] In 2011, The Chronicle of Higher Education ran an article which said that the future was bright for college graduates. [54] The data also suggested that, notwithstanding a slight increase in 2008–09, student loan default rates had declined between the mid-1980s and 1990s and early 2010s.
Critics of for-profit colleges have pointed to the heavy dependence on federal loans and grants to students, the low student completion rate, and the inability of the majority of graduates to pay their student loans because they failed to secure high-paying jobs. [32]
The stock market crash on Black Tuesday and subsequent economic turmoil reified the formerly abstract risks endemic to the 1920s mortgage market: borrowers could no longer afford even moderate monthly payments and the recompense afforded by foreclosure on a lien did little to ameliorate many institutions' financial standing: between 1928 and 1933, home prices declined by nearly 25.9% ...
Two in five students who identify as American Indian or Alaska Native default on their student loans. Student loan default rates are higher among Indigenous students due to widespread poverty in ...
In May 2024, the Department of Education announced that the student loan interest rate for the 2024–2025 academic year would be 6.53% for undergraduate loans, 8.08% for postgraduate loans, and 9.08% for PLUS Loans, which was the highest undergraduate rate in more than a decade and the highest postgraduate and PLUS Loan rates in more than two ...
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Except for Nova Southeastern, they are all for-profit. In 2018, the National Center for Education Statistics reported that the 12-year student loan default rate for for-profit colleges was 52 percent. [10] The default rate for borrowers who do not complete their degree is three times the rate for those who did.