Student debt is a hot-button issue and a daily struggle for millions of graduates collectively dealing with over $1.2 trillion worth of student debt.
Many students are taking out student loans to pay for college educations because that is the only way they can afford higher education; many universities and colleges are created differently. While some schools produce top earners alums, others are stuck with low incomes and struggle to pay off their student debts,
StartClass, an education research site powered by Graphiq, found the 59 colleges with the highest percentage of students defaulting on their loans. Using the College Scorecard project data, a White House-sponsored program that delves into “national data on cost, graduation, debt and post-college earnings,” StartClass ranked 59 schools by their 3-year default rate.
To be considered, each school had to enroll at least 15,000 undergraduate students and offer four-year degree programs. The school’s three-year repayment rate and median earnings of former students who received federal financial aid ten years after entering the school are also noted.
Here Are the Top 10 Schools With Default Rates
10. Florida State College at Jacksonville
3-year Default Rate: 17.7 %
3-year Repayment Rate: 56 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,100
Institution Type: Four-Year Public
Undergraduate Enrollment: 25,018
9. Seminole State College of Florida
3-year Default Rate: 18 %
3-year Repayment Rate: 53 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,300
Institution Type: Four-Year Public
Undergraduate Enrollment: 16,567
8. DeVry University-Illinois
3-year Default Rate: 18.5 %
3-year Repayment Rate: 54.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: N/A
Institution Type: Four-Year Private for-profit
Undergraduate Enrollment: 20,112
7. Palm Beach State College
3-year Default Rate: 19.3 %
3-year Repayment Rate: 56.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: $31,500
Institution Type: Four-Year Public
Undergraduate Enrollment: 26,106
6. Full Sail University
3-year Default Rate: 19.9 %
3-year Repayment Rate: 57.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: $34,100
Institution Type: Four-year private for-profit
Undergraduate Enrollment: 18,880
5. College of Southern Nevada
3-year Default Rate: 20.2 %
3-year Repayment Rate: 49.5 %
Median Earnings of Former Students Who Received Federal Financial Aid: $31,900
Institution Type: Four-Year Public
Undergraduate Enrollment: 29,848
4. Valencia College
3-year Default Rate: 20.3 %
3-year Repayment Rate: 53.8 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,100
Institution Type: Four-Year Public
Undergraduate Enrollment: 34,819
3. Kaplan University-Davenport Campus
3-year Default Rate: 20.4 %
3-year Repayment Rate: 35.7%
Median Earnings of Former Students Who Received Federal Financial Aid: $34,400
Institution Type: Four-year private for-profit
Undergraduate Enrollment: 40,209
2. Everest University-South Orlando
3-year Default Rate: 21.5 %
3-year Repayment Rate: 22 %
Median Earnings of Former Students Who Received Federal Financial Aid: $ 25,300
Institution Type: Four-year private for-profit
Undergraduate Enrollment: 29,460
1. St. Petersburg College
3-year Default Rate: 21.9 %
3-year Repayment Rate: 52.4 %
Median Earnings of Former Students Who Received Federal Financial Aid: $32,000
Institution Type: Four years Public
Undergraduate Enrollment: 27,166
Reference:
StartClass,
College Scorecard
Forbes
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