College Dropouts: Debt Without the Degree

36% of the freshman class you start college with won't graduate with you.

Straight From the Horses Mouth

COE - Undergraduate Retention and Graduation Rates

Presents text and figures that describe statistical findings on an education-related topic.

Undergraduate Retention and Graduation Rates

For many students, it’s a rocky road that sometimes ends with no degree and a mountain of debt. The numbers don’t lie—college dropouts are a huge issue, and it’s time we think about it before taking on debt that stays with you regardless of whether you graduate or not.

Think Twice Before Signing on the Dotted Line

Here’s a stat to chew on: Around 36% of college students in the U.S. don’t graduate within six years. Yep, you read that right. According to the National Center for Education Statistics (NCES), the six-year graduation rate for first-time, full-time students pursuing a bachelor’s degree is 62% at public institutions, 68% at private nonprofit institutions, and a dismal 26% at private for-profit schools.

Nearly 36% of students who start their college journey don’t finish, and that’s a big deal especially if they took debt and didn't get the degree.

The Debt Without the Degree

Now, let’s sprinkle in some financial reality. The average cost of tuition, fees, and living expenses for a four-year degree is tens of thousands of dollars, with many students turning to loans to foot the bill. But what happens if you drop out before snagging that diploma? You’re left with the debt, but not the earning potential that degree-holders get.

College graduates make more but if you don't think you can graduate, don't wing it.

Double Trouble

Dropping out with debt is a double whammy. Take a federal student loan now you have fewer job prospects and debt added onto it.

Life Happens

There are plenty of reasons students find themselves walking away from college:

• Money Troubles: College costs are no joke. For some, the financial strain becomes too much to bear.
• Burnout and Stress: Let’s face it, juggling academics, part-time jobs, and personal life isn’t easy.
• Personal Life Happens: Family responsibilities, health issues, and other life events can derail the best-laid plans.
• Lack of Support: Some students feel disconnected or unsupported, especially at larger institutions.

Don't Hope For The Best, Plan For the Worst When it Comes to Student Loan Debt

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