If You're a Lower-income Student, For-profits Might Not Be for You

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If You're a Lower-income Student, For-profits Might Not Be for You

Feb, 11th 2017

Students at public colleges have better success paying off their loans

Student loans are meant to be an engine for economic mobility, providing students who can’t afford a college education the opportunity to get one. But new data suggest student debt can actually exacerbate inequality if a borrower chooses the wrong school.

Five years after beginning to repay their student loans, typical low-income borrowers have repaid none of their original balance, whereas the typical borrower from a higher income family has repaid about 19%, according to a working paper distributed by the National Bureau of Economic Research Monday. The paper, authored by three staffers affiliated with the Treasury Department, matches tax data with information in the Department of Education’s Student Loan Data System on borrowers who entered repayment between 2004...

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