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What percentage of student loans are defaulted on?

Kristi Hammond

in Student Loans

1 answer

1 answer

Alexa Spicer on May 7, 2019

A very high percentage both in Canada and the united states I live in Canada (I don't think that the united states is very different when it comes to student loans) and the loan is difficult to pay off. Currently, our government is going to make it easier for students to loan money. The majority of parents can't afford to pay all of the expenses that a student requires, and, if a government is smart, they will realize that students may not be able to work 1 - 3 part-time jobs to pay for college (books and tuition is getting more expensive each year of study, and are expected to keep good health. It is stupid! I know several young people in my city and prefer to work 2 to 3 jobs than take out a student loan. If the student is a very good student, then I feel that the government should kick in some financial help free of charge to get the students the best education possible. It sounds like I'm from Russia, but that is how they do it. In Russia, the student could be from a wealthy family, but the student can be as bright as a bag of nails, but another student from an average to the low of the family could be highly intelligent and the government is going to pay for their education. Makes sense to me. I did go to College for a short time and found that there were a lot of "bench warmers" sitting there killing time. I knew that students who were like this and any of the that, finally, is to stop smoking or your parents paid your way through. My opinion only, but, dead wood should be expelled and those that are serious get good education without having a debt for the rest of their lives. If you can get away without a student loan try. Use only as a last resort. Check into it and see what it will cost you in the long term. It is a shame to see the waste of a beautiful mind! Good luckMarcy In the U.S. the percentage of defaulted student loans is much smaller than most people think. Defaulted loans reached its highest peak in 1990 at 22.4%, when the government allowed loans to be used in almost any institution that even vaguely resembled a form of educational purpose. The percentage of defaulted federal student loans in the year 2003 until the year 2005, with an average of 4.9%.

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