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College Dropouts Struggling With Student Loan DebtMay 30, 2012
Boston Globe – It’s a sad scenario. A college student takes out a loan, accrues thousands of dollars of debt and then drops out of college. Their college dream has been dashed but their loan has not disappeared, only their chance of paying it off. According to a new study from Education Sector, this happens to nearly 30% of all college students. They also report that college dropouts are four times more likely to default on student loans. The report indicates several reasons for the problem, including poor college planning, easy access to student loans, a struggling job market, and students deciding they’ve already taken on too much debt to continue studying. Given lower wages for non-college degree holders than graduates, student loans can create a problem for dropouts for a decade or longer. For more, read Education Analysts Raise New Concern: Dropouts With Debt.
RSC has spoken at length about this issue in our blog, website and web events. Although the study is new, the problem is not. The RSC program is specifically built to address this concern, helping students lower their college costs so that they can afford their education. There are many steps 8th-12th graders can take to prepare for college and not be stuck with massive student debt and no degree to show for it. Know your goals and map out a plan to reach them. Join the RSC program today to see how we can help you!