Analyzing Student Loan Repayment Rates May Benefit College-bound Students

The most recent data released to the public on the rate of student loan repayment has made many Americans take a second look at the price of education and the benefits and drawbacks of taking on such large debt.

The statistics provided by the Department of Education have also sparked a call for legislation that may penalize for-profit colleges if they do not establish programs that better prepare their students for the job market prior to graduating them with large loan balances. Although the data showed that fewer students were able to keep up with their debt obligations, prospective students can use this information to their benefit when deciding which schools to apply to.

"This is one more piece of the puzzle that students and families can use to help them figure out which is the right college for them. It's not the most critical piece," Institute for College Access and Success program director Debbie Cochrane told the San Francisco Gate.

Young adults should make sure they fully understand the terms of their student loans to avoid the need to seek debt relief in the future.