Debt without the degree: Number of college dropouts with loans is rising

http://www.washingtonpost.com/business/economy/college-dropouts-have-debt-but-no-degree/2012/05/28/gJQAnUPqwU_story.html

Nearly 30 percent of college students who took out loans dropped out of school, up from fewer than a quarter of students a decade ago, according to a recent analysis of government data by think tank Education Sector. College dropouts are also among the most likely to default on their loans, falling behind at a rate four times that of graduates.

More students are balancing their studies with full- or part-time jobs or signing up for a reduced course load to save money, increasing the likelihood that they will not graduate.

College enrollment has swelled by 38 percent during the past decade to more than 20 million, according to government data.

A study by the Education Trust found that more than half of students who take out loans to enroll in two-year for-profit colleges never finish.

Only about 8 percent of Americans between the ages of 16 and 24 don’t have a high school degree, according to government data.

Education experts say many students are not prepared for the more rigorous course work in college, and many schools do not offer enough guidance for young people trying to navigate the first steps of their adult lives.