For 29% of Students: Debt, But No Degree
And they're the most likely to default
By Kevin Spak, Newser User
Posted May 29, 2012 10:13 AM CDT
Lots of students are racking up debt with nothing to show for it.   (Shutterstock)

(Newser) – You think it's tough being a recent graduate with a mountain of student loan debt? Try being a dropout with a mountain of student loan debt. Nearly 30% of college students who took out loans in 2009 dropped out of school, up from 23% in 2001, according to a new study. That's alarming, because dropouts, for obvious reasons, face higher unemployment, make less money, and are among the most likely to default on their loans.

The Washington Post sees the figures as an indictment of decades of public policy designed to increase access to higher education, but not to ensure students graduate or can afford it. "Access and success are not linking up," says Sallie Mae's COO. The numbers also look bad for for-profit schools, which saw dropout rates increase more than their public counterparts—and leave the average student with twice as much debt.

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Showing 3 of 17 comments
May 30, 2012 4:00 AM CDT
If they are all as stupid as the recent college graduate working for us they deserve to be unemployed. Imagine having someone leaving your business at closing time and not bothering to lock the front door.
May 29, 2012 3:55 PM CDT
If you borrowed money for college, didn't work hard enough to graduate (obviously difficulty depends on the degree), then no one should have any sympathy for any of them. It isn't as though college is difficult for most students.
May 29, 2012 3:08 PM CDT
The proper way to improve our Public School's education of students is that if any student fails to achieve the learning that is sufficient to perform at the minimum level in the next grade then that student should be failed and required to repeat that grade of school. That was the way it was in the forties and fifties, at least in was in my state. It was not referred to as "Tough Love", but I think that was what it was.