Student debt defaults double after technical error
February 10, 2017
In 2015, the Education Department revealed student loan repayment rates of over 1,000 U.S. schools. It was originally reported that at 347 of those schools, more than half of students had defaulted on their student loan debt or failed to pay down the debt within seven years.
In a new release of data in January, however, it was revealed that actually 1,029 schools followed that trend, meaning the number of students not repaying their student loans had been severely understated.
With a new presidential administration, colleges with such poor repayment rates might face punishment unless they improve their process.
Read the full report in The Wall Street Journal here.