Looking at the student loan defaults rates by state, one is struck by how much the defaults are concentrated in the South East. Why would this be so?
But nothing is as shocking as how badly the for-profit institutions do. I think some sober looks at these numbers make sense before we conclude that for profit is automatically better, especially given that student debt is large and can no longer be discharged by bankruptcy.
I haven't lived in Arkansas for more than a decade but if I had to speculate that the companies that are doing the hiring (like Tysons and Riceland) are not making that much use of people with degrees. That might explain the unemployment/default gap in the chart.
ReplyDeleteTrue. But the overall default rate suggests that something is not working for Arkansas graduates in the grand scheme of things. After all, you'd think that they would be the most mobile part of the local population . . . ending up in places like Los Angeles. :-)
ReplyDelete