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Most of the student debt is from students who attend for profit colleges who do not complete their degree.
by sjg007 5y ago
Most of the student debt is from students who attend for profit colleges who do not complete their degree.
- HWR_14 5y agoI don't think that's true in aggregate, and certainly isn't true when adjusted for population size. The average doctor has far more school debt than the average dropout. Now, a pause on the first 30k of debt (or any other number under 100k) would solve that issue. 30k was chosen because that number seems to be proposed at a lot as a cutoff.
- kongolongo 5y agoThat's just not true. “While 39% of borrowers did not complete a degree, they account for only 23% of debt borrowed” [1] The stats clearly show the vast majority of student loan debt is held by degree holders and disproportionately by graduate degree holders with extremely high earnings potentials (doctors, lawyers, MBAs)[2]. Remember debt is a financial instrument, not necessarily a bad outcome. Graduate degree pursuers often hold a lot more debt, but will become much better positioned to repay it a few years after graduation. [1]https://www.politifact.com/factchecks/2021/feb/12/alma-adams/democrats-say-40-people-college-debt-didnt-get-deg/ https://www.politifact.com/factchecks/2021/feb/12/alma-adams... [2]https://www.brookings.edu/research/student-loan-forgiveness-is-regressive-whether-measured-by-income-education-or-wealth/#cancel https://www.brookings.edu/research/student-loan-forgiveness-...