Having studied the data of the repayment of student loans over the last 15 years, the Chronicle has found students are defaulting at rates far exceeding even the daring speculations. Moreover, the amount of defaulted loans only increased over time.
The data for two-year and for-profit colleges is especially worrying, with 40 per cent of the loans defaulting since 1995. The figures are published when the strict federal scrutiny is carried out in for-profit colleges. The investigation was initiated by the Government because of concerns over growing discrepancies between the financial aid drawn and money spent for ends other than teaching. Continue reading More Student Loan Defaults in 15 Years!