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The south has the highest rates of student loan delinquency
Posted on 5/15/25 at 7:58 am
Posted on 5/15/25 at 7:58 am
Newsweek
quote:
They wrote that seven states have a conditional borrower delinquency rate above 30 percent, that is, the percentage of borrowers with at least one student loan that is 90 or more days past due or in default.
Those states are Mississippi (44.6 percent), Alabama (34.1 percent), West Virginia (34.0 percent), Kentucky (33.6 percent), Oklahoma (33.6 percent), Arkansas (33.5 percent), and Louisiana (31.8 percent).
14
Posted on 5/15/25 at 7:59 am to stout
How is La. on that list when they have TOPS?
Posted on 5/15/25 at 8:01 am to bad93ex
quote:There’s a “BOTTOMS” -Aggie program joke here but I’m too lazy to work it out.
How is La. on that list when they have TOPS?
Posted on 5/15/25 at 8:03 am to stout
All this map tells me is that communist states like California and Illinois benefitted the most from student loans being wiped clean. NO WAY the commies in those two states are prioritizing their student loan payments. Bunch of freeloaders got their loans taken care of the last few years.
Posted on 5/15/25 at 8:18 am to bad93ex
quote:
How is La. on that list when they have TOPS?
That’s probably part of the problem. TOPS has low standards, so people who shouldn’t go to a university are, and TOPS doesn’t cover everything. So a lot of students still have to get some sort of student loans. It’s almost like this is a business or something, and people are trying to sell off this product to everyone, but the product isn’t for everyone.
Posted on 5/15/25 at 8:25 am to stout
Lots of HBCUs in those states
Posted on 5/15/25 at 8:27 am to stout
It's far more instructive to look at student load delinquency by institution. In AL at least, it will be heavily to the community "colleges" in every county, and to fly by night trade schools and beauty schools.
ETA: You can download limited default data for three years here. Because it is only for three years, you only start to see defaults in year three. As noted above, rates are led by community colleges and a couple of schools you might suspect.
For reference, both UAT (1.2%) and Auburn (0.5%) are well below national averages, though UAT is nearly 2.5x Auburn's rate.
LSU checks in at 1.8%.
ETA: You can download limited default data for three years here. Because it is only for three years, you only start to see defaults in year three. As noted above, rates are led by community colleges and a couple of schools you might suspect.
For reference, both UAT (1.2%) and Auburn (0.5%) are well below national averages, though UAT is nearly 2.5x Auburn's rate.
LSU checks in at 1.8%. This post was edited on 5/15/25 at 8:41 am
Posted on 5/15/25 at 8:35 am to stout
Looks like there will be some Civics with missing bumpers for sale soon
Posted on 5/15/25 at 8:37 am to Faurot fodder
quote:
All this map tells me is that communist states like California and Illinois benefitted the most from student loans being wiped clean. NO WAY the commies in those two states are prioritizing their student loan payments. Bunch of freeloaders got their loans taken care of the last few years.
I'm sure you're equally as upset at the various bailouts of large industries in the 2000s and then the PPP and other forgiven loans during COVID.
Posted on 5/15/25 at 8:38 am to thejuiceisloose
For once in your life, you'd be correct. frick all freeloaders. Any other questions?
Posted on 5/15/25 at 8:41 am to Faurot fodder
quote:
For once in your life, you'd be correct. frick all freeloaders. Any other questions?
Not at the moment, I appreciate your consistency
Posted on 5/15/25 at 8:43 am to thejuiceisloose
quote:
I'm sure you're equally as upset at the various bailouts of large industries in the 2000s and then the PPP and other forgiven loans during COVID.
Not really, because I can comprehend the difference between organizations that make the economy function and employ people vs freeloaders.
Now as to those business owners who committed fraud and didn't actually pay their people with PPP loans, that is a different matter.
Posted on 5/15/25 at 8:45 am to stout
Oh well.
I paid mine off. Had to sacrifice a lot to do it, but its done. If people aren't paying then they deserve the penalties and garnishments because they capped payments as a % of income years ago.
I paid mine off. Had to sacrifice a lot to do it, but its done. If people aren't paying then they deserve the penalties and garnishments because they capped payments as a % of income years ago.
Posted on 5/15/25 at 8:47 am to TigerHornII
quote:
Not really, because I can comprehend the difference between organizations that make the economy function and employ people vs freeloaders.
How do you think those employers got qualified employees to make things happen? College?
Posted on 5/15/25 at 8:50 am to Sput
quote:
Lots of HBCUs in those states
we had a post on this topic earlier..... SEC vs SWAC, SWAC on average had 3x the delinquency rates
Previous post
SWAC had between 9.0% and 26.6% Delinquency rates for their 11 schools. with a school % average of 19.2%
SEC Schools ranged from 1% to 8.5% (thanks Mississippi schools) with an school % average of 3.9%
So SWAC is about 5x higher with delinquencies vs SEC. Things are much worse when you look at For-profit schools......
Posted on 5/15/25 at 8:57 am to thejuiceisloose
quote:
How do you think those employers got qualified employees to make things happen? College?
In the larger economy, those states with higher default rates benefited from colleges employing everyone from teachers to contractors to staff. Those students and decently paid employees spent money locally that was taxed and supported small businesses.
(That's even ignoring the economic impact of college graduates in local hiring pools instead of minimum wage Dollar General Store ones mentioned above.)
The map looks like yet another example of federal money stimulating the economies of poorer states.
This post was edited on 5/15/25 at 11:18 am
Posted on 5/15/25 at 9:00 am to stout
Being poor and the hyperinflated costs of higher education don't exactly mix too well.
Posted on 5/15/25 at 9:00 am to TigerHornII
quote:
Not really, because I can comprehend the difference between organizations that make the economy function and employ people vs freeloaders.
Dude, PPP and employee retention credit may have been the biggest fraud since Madoff. Government was just giving money away
This post was edited on 5/15/25 at 9:01 am
Posted on 5/15/25 at 9:05 am to TigerHornII
quote:
Now as to those business owners who committed fraud and didn't actually pay their people with PPP loans, that is a different matter.
All of it was fraud.
PPP was disastrous and paid for many vacation homes and other luxury purchases.
Quit printing money and bailing businesses or people out. If you fail, you fail.
And if you take out a loan, fricking pay it back. Smokey, this isn't Nam. This is bowling. There are rules.
This post was edited on 5/15/25 at 9:10 am
Posted on 5/15/25 at 9:08 am to bad93ex
quote:
How is La. on that list when they have TOPS?
Tops isn’t exactly 100% free college. Fees and books which are not covered by TOPS are $5k a year (obviously not huge dollars compared to other places). I suspect lack of job opportunities in those states after college are an issue.
This post was edited on 5/15/25 at 9:09 am
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