According to the National Center for Education Statistics, the typical student borrower will take out $6,600 in a single year, averaging $22,000 in debt by graduation.
1. Of borrowers who started repaying in 2012, how many had defaulted by 3 years later?
2. By year 5, how many students default?
3. Collectively, how much do students owe and what amount in dollars is in default?
4. What is the AVERAGE DEFAULT RATE BY SCHOOL TYPE?
5. What type of repayment options are schools aggressively promoting?
6. What does this writer think that the federal government should do about the collection process?
Miller, B. (2018). The Student Debt Problem is Worse Than We Imagined. The New York Times, Aug. 25 (Retrievable online at https://www.nytimes.com/interactive/2018/08/25/opinion/sunday/student-debt-loan-default-college.html)