Most college students borrow money to pay for school. Not all of those borrowers graduate, however. Borrowers who drop out of college have much higher default rates than borrowers who graduate (16.8 percent versus 3.7 percent, respectively), according to an Education Sector report. Here are the percentages of borrowers who drop out of four-year schools, by type of school...
54% of borrowers drop out at private, for-profit schools
21% of borrowers drop out at public schools
19% of borrowers drop out at private, non-profit schools
Source: Education Sector, Degreeless in Debt: What Happens to Borrowers Who Drop Out?
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