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Data Summary Check Over one-third of undergraduates in a bachelor'sdegree program (about 37%) were first-generation college students in 2016. [1] Check Only 26% of first-generation college students went on to get their degree. [2] Check Only 26% of first-generation college students went on to get their degree. [2]
Graduating with student loan debt can delay major life events like buying a home or saving for retirement. In addition to inflation, the job market, growing student loan debt, housing insecurity — the list goes on. Growing student loan debt. As a result, the increases in student loan debt yield greater financial stress.
College enrollments have been declining steadily since 2012. Add that four-year opportunity cost together with student loan debt and the calculus doesn't make sense to a growing number of young adults — especially when a company as exalted as Google tells them they don't need a bachelor'sdegree to work there.
The waivers allow these students to earn an associate degree, bachelor'sdegree, or certificate without having to pay tuition or fees, as long as students complete their program within a set time frame. Nine states have scholarship or grant options to help lessen the need for student loans.
However, the number of people with disabilities earning bachelor'sdegrees has increased substantially over the years. 10] College Graduation About half (49.5%) of students with disabilities who enrolled at a four-year college in 2011 completed a bachelor'sdegree within six years versus roughly 68% of students without disabilities.
Data Summary Check As of 2022, the three-year student loan default rate was 2.3%. [1] 1] Check The recent student loan default rate is the lowest it's been in years. Note Reference [1] Check At the end of 2021, roughly 3 million people — close to 7% of all student loan borrowers — were in default. [2] in 2012 to a low of 7.3%
The large percentages of programs with unaffordable debt at for-profit institutions are particularly worrisome for Black graduate students who disproportionately attend these schools and already face significant student loan debt. ED's report suggests that the value of obtaining an advanced degree may have fallen over the last 20 years.
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