FINANCIAL

Alumni Are Struggling to Pay Their Loans

By  | 

Student debt is a hot-button issue and a daily struggle for millions of graduates collectively dealing with over $1.2 trillion worth of student debt.

Many students are taking out student loans to pay  for college educations because that is the only way they can afford higher educations, many universities and colleges are created differently while some schools produce top earners alumni, but others are stuck with low incomes and struggling to pay off their student debts,

StartClass, an education research site powered by Graphiq, found the 59 colleges where the highest percentage of students are defaulting on their loans. Using data from the College Scorecard project, a White House-sponsored program that delves into “national data on cost, graduation, debt and post-college earnings,” StartClass ranked 59 schools by their 3-year default rate.

To be considered, each school had to have at least 15,000 undergraduate students enrolled and offer four-year degree programs. The school’s three-year repayment rate is also noted, as well as the median earnings of former students who received federal financial aid ten years after entering the school.

Here Are Top 10 Schools With Default Rates

10. Florida State College at Jacksonville

3-year Default Rate: 17.7 %
3-year Repayment Rate: 56 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,100
Institution Type: Four Year Public
Undergraduate Enrollment: 25,018

 

9. Seminole State College of Florida

3-year Default Rate: 18 %
3-year Repayment Rate: 53 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,300
Institution Type: Four Year Public
Undergraduate Enrollment: 16,567

 

8. DeVry University-Illinois

3-year Default Rate: 18.5 %
3-year Repayment Rate: 54.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: N/A
Institution Type: Four Year Private for-profit
Undergraduate Enrollment: 20,112

 

7. Palm Beach State College

3-year Default Rate: 19.3 %
3-year Repayment Rate: 56.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: $31,500
Institution Type: Four Year Public
Undergraduate Enrollment: 26,106

 

6. Full Sail University

3-year Default Rate: 19.9 %
3-year Repayment Rate: 57.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: $34,100
Institution Type: Four-year private for-profit
Undergraduate Enrollment: 18,880

 

5. College of Southern Nevada

3-year Default Rate: 20.2 %
3-year Repayment Rate: 49.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: $31,900
Institution Type: Four Year Public
Undergraduate Enrollment: 29,848

 

4. Valencia College

3-year Default Rate: 20.3 %
3-year Repayment Rate: 53.8 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,100
Institution Type: Four Year Public
Undergraduate Enrollment: 34,819

 

3. Kaplan University-Davenport Campus

3-year Default Rate: 20.4 %
3-year Repayment Rate: 35.7%
Median Earnings of Former Students Who Received Federal Financial Aid: $34,400
Institution Type: Four-year private for-profit
Undergraduate Enrollment: 40,209

 

2. Everest University-South Orlando

3-year Default Rate: 21.5 %
3-year Repayment Rate: 22 %
Median Earnings of Former Students Who Received Federal Financial Aid: $ 25,300
Institution Type: Four-year private for-profit
Undergraduate Enrollment: 29,460

 

1. St. Petersburg College

3-year Default Rate: 21.9 %
3-year Repayment Rate: 52.4 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,000
Institution Type: Four years Public
Undergraduate Enrollment: 27,166

 

Reference:

StartClass,
College Scorecard
Forbes 

Anwar Abdi

Anwar Abdi is Junior at the University of Windsor is currently Studying Communication, Media and film, He loves cooking, and in his spare time, he watches a lot of Netflix, and his favorite shows are Suits, Scandal, Homeland, Blacklist