Source: New York Post
There are at least 500 colleges and universities across the country where at least 40% of students fail to pay their federal student loans, according to a new report — sticking US taxpayers with the bill while the schools cash out. Some schools — like Construction Training Center in South Carolina, Legends Barber College in Texas — have nonpayment rates of 70-80%, a new analysis from NPR found. And the taxpayer-backed cash is keeping the small schools afloat, accounting for more than two-thirds of the institutions’ entire revenue streams.
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