Take A Look: “If Students Default, Should Colleges Pay Up?”

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In May 2015, the Senate Committee on Health, Education, Labor & Pensions began looking into whether or not colleges and universities should take on some of the risk when students default on their loans. As Marketplace reporter Nova Safo points out in “If Students Default, Should Colleges Pay Up?” 7 million Americans have defaulted on loans averaging roughly $14,000 a piece. In 2014 alone, student loan defaults totaled $99 billion. While it is believed that working legislation as such may be years away, the implications for higher education and the risk for low income students, who may be more likely to default, are very real. To read or listen to “If Students Default, Should Colleges Pay Up?” click here.

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