Posted on 04/14/2013 6:38:36 AM PDT by SeekAndFind
The St. Louis Fed has published two maps showing state averages for overall amount of student debt and delinquency rates on repaying it.
A high delinquency rate is bad news because it makes it harder for the student to get credit in the future, which leads to a higher likelihood of the student defaulting on other kinds of debt.
Here's the map for highest average student debt.
(Excerpt) Read more at businessinsider.com ...
interesting... NY in in the over $25K debt range but the 7%-10% default range
Well, you can go to a high priced school but if (big IF ) you get hired by a hedge fund or an investment bank, paying the tuition loan off should not be a problem.
The states with the most debt make sense because they have the best colleges. The Red States are most delinquent which is depressing.
http://www.ed.gov/news/press-releases/first-official-three-year-student-loan-default-rates-published
I'll take a guess that "for profit" schools that advertise on late night TV are more common in the high debt/high delinquency states.
Student loans have become just another fraud ridden government program
It used to be you would get a loan to go to a accredited University or Junior College to get an education.
Nowadays, there are a ton of schools set up to pretty much split the money with the students and rip off the government with little or no intention to pay back the debt.
Please explain how I can avoid paying it back.
that or if Daddy is footing the bill...
“Please explain how I can avoid paying it back.”
Only way is extreme hardship. Your on the hook for everything else.
10 yrs of Public Service, will erase the remaining balance of your loans.
I hadn’t heard of that. Looks like I pulled a Joe Biden.
I think I’ll just graduate and get a job instead though.(hopefully get a job)
“Only way is extreme hardship.”
Does being a citizen under an Obama Presidency count?
If one of your parents dies, you don’t have to pay it back. Just sayin ...
Like four years ago?
PA seems to have the best loan to payoff ration of all the top $ loan states. Wonder what accounts for that? Several of the others have (relatively) decent ratios. FL seems to be the worst.
Character?
Self deport?
maybe better degree program decisions instead of the angry lesbian studies programs etc?
The Red States are most delinquent which is depressing.
They may be red states but places like MS have a huge percentage of Holder’s people. I think you will find the delinquent folks are disproportionately obama voters no matter what state they reside. It the same with the bogus welfare stats the dims trot out to disparage conservatives and the southern US. Don’t buy what they are selling at face value.
ohhhhhhhhhhhhh, you mean something that could lead to an actual job after 4 years and $100K ???? something like that?
(Tho I do have to admit when my daughter was an undergrad a man I knew asked about her major and I told him; he said “what’s she going to do with THAT?” and I suggested perhaps grad school. She did go to grad school and before 30 was making nicely into the 6-figures salary while his daughter, who was studying to become an elementary teacher (slam dunk, he thought) spent 3 years looking for permanent employment. So ya just never know.)
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