![]() When it comes to the type of degree, not surprisingly, college dropouts, whether they were seeking an Associate or seeking a Bachelor’s degree, have higher default rates than students who graduate. While this largely reflects the higher earnings prospects enjoyed by four-year students, it also partly reflects the earlier start of the loan repayment period for two-year students and inherent differences between two- and four-year students. When it comes to the type of institution that was attended, perhaps not surprisingly, those who went to private, for-profit institutions have the highest default rates, followed by those who went to public institutions and then those who went to private, nonprofit colleges of universities. The researchers looked at individuals who were born between 19 and tracked their student loan payments as those individuals aged. ![]() A group of researchers from the Federal Reserve Bank of New York have sought out determine the impact of different variables on whether someone defaults on their student loan debt.įor example, does the type of college that the individual attended impact default rates? Or, whether the type of degree matters? Or, if the individual dropped out of college?
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