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50 big colleges where alumni struggle to pay their loans (TESU on list) - Life Long Learning - 08-25-2018
50 big colleges where alumni struggle to pay their loans (TESU on list)
Ben Wittstein
6/28/2018
#47. Thomas Edison State University
Location: Trenton, NJ
7-year repayment rate: 68.25%
Median debt: $10,750
Undergraduate population: 12,283
Admissions rate: N/A
https://www.msn.com/en-us/money/careersandeducation/50-big-colleges-where-alumni-struggle-to-pay-their-loans/ss-AAzdifL?li=BBnb7Kz#image=48
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - dfrecore - 08-25-2018
I'm going to guess that there's a huge number of people with really low debt, and then a number of people who have quite a large amount, and they are the ones not paying it back. Because when the average debt is $10k, there's no way people aren't paying that average amount back. It has to be something else.
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - davewill - 08-25-2018
We tend to forget around here that the Big3 are not cheap if you attend in a "normal" manner.
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - dfrecore - 08-25-2018
(08-25-2018, 05:42 PM)davewill Wrote: We tend to forget around here that the Big3 are not cheap if you attend in a "normal" manner.
Definitely. But, how can the average debt be only $10k, and people are having trouble paying that back???
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - katelynn - 08-25-2018
(08-25-2018, 07:27 PM)dfrecore Wrote:(08-25-2018, 05:42 PM)davewill Wrote: We tend to forget around here that the Big3 are not cheap if you attend in a "normal" manner.
Definitely. But, how can the average debt be only $10k, and people are having trouble paying that back???
Maybe they're just kids looking for a cheaper route like I am, but 10 grand is still a lot of money to us younger people.
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - allvia - 08-26-2018
(08-25-2018, 05:35 PM)dfrecore Wrote: I'm going to guess that there's a huge number of people with really low debt, and then a number of people who have quite a large amount, and they are the ones not paying it back. Because when the average debt is $10k, there's no way people aren't paying that average amount back. It has to be something else.
I bet it is average debt of all graduates, not just those graduating with debt remaining - with us on this forum thrown into those numbers we must lower the dollar amount a great deal.
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - ChilliDawg - 08-26-2018
TESU has a fairly popular Nursing program, if I am correct. I imagine it is quite costly. I wonder if that has anything to do with it. Seeing as TESU has a lot of people like us going to school there, we MUSt be skewing their numbers in a positive fashion.
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - BSLIONS - 08-26-2018
The average is 10K debt, I'm sure those aren't the ones having trouble. Let's say you go the regular way and do the comprehensive plan which is $7,519 for 4 years. That's 30K debt right there. Most students don't know about this method of getting a degree so I'm sure a lot of them are doing it that way. Plus they offer graduate degrees as well.
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - dfrecore - 08-26-2018
(08-26-2018, 01:09 PM)BSLIONS Wrote: The average is 10K debt, I'm sure those aren't the ones having trouble. Let's say you go the regular way and do the comprehensive plan which is $7,519 for 4 years. That's 30K debt right there.
That's $30k in tuition - which does not necessarily translate into $30k of debt.
RE: 50 big colleges where alumni struggle to pay their loans (TESU on list) - cookderosa - 08-27-2018
(08-25-2018, 07:27 PM)dfrecore Wrote:(08-25-2018, 05:42 PM)davewill Wrote: We tend to forget around here that the Big3 are not cheap if you attend in a "normal" manner.
Definitely. But, how can the average debt be only $10k, and people are having trouble paying that back???
10k student loan is easily $100/month without penalties or default. I think $100 puts a dent in anyone's budget if they are in a low-paying job, single-income, or live in a high cost of living area like New Jersey (TESU's location).
Also, student loan repayment options now make it look like "income-based" or "forbearance" are equal / easy payment plans - pay now, pay later.....
To add, whenever people discuss student loan debt and repayment, people assume the student earned a DEGREE and increased employment or income potential. Unlikely.
TESU's 6 year (SIX YEAR) graduation rate is only 42%. Their 8 year (EIGHT YEAR) graduation rate is 44%.
In other words, the "adult learner" usually enrolls in college for 1 reason: career advancement. Wanting career advancement presumes they probably want more income - so you take a broke person, give them a loan, they struggle taking classes for 1-8 years, and 60% end up exactly where they were when they started, but with a new payment. That initial loan has also been earning interest since Day 1....so there's that.
https://www.collegefactual.com/colleges/thomas-edison-state-college/academic-life/graduation-and-retention/