Three significant paragraphs from the article-> ------------- Most people struggling to pay off their debts are not graduates of four-year colleges. They

Three significant paragraphs from the article-> ------------- Most people struggling to pay off their debts are not graduates of four-year colleges. They are instead non-graduates — people who attended college (often a for-profit college) but never received a degree. They have the worst of both worlds: debt and no degree. [...] The average four-year college graduate who takes out loans ends up with less than $30,000 in debt. That typically translates into monthly payments of about $300 — or about 7 percent of the starting salary of a brand new college graduate (which is more than $50,000 a year). Over time, this percentage declines, as the graduate receives raises. No wonder the overwhelming majority of college graduates repay their loans on time. [...] A recent Brookings Institution study by Judith Scott-Clayton found that the loan-default rate for borrowers with a bachelor’s degree was less than 8 percent. The default rate for borrowers without any degree was a miserable 40 percent.