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Cal Tech, Dordt College have highest loan debt repayment rates
By Edith Barlow on Sep 3rd, 2010
This past week, the U.S. Department of Education released a list of the top schools across the country with high rates of graduates who can afford to repay their student loans. As the economy struggles to recover and the unemployment rate remains high, new grads are finding difficulty entering the job market. Without a stable income, many are quickly drowning in their student loan debt.
U.S. News and World Report sorted through the results and ranked the schools according to how well graduates were able to handle their debt. The California Institute of Technology, Dordt College and Medcenter One College of Nursing rounded out the top three of the list. In 2009, these schools saw 90 percent of graduates begin to repay their loans without difficulty.
According to Wallet Pop, a financial news site, nursing schools and technology institutes in general had the highest repayment rates on the list. At the bottom, for-profit and beauty schools ranked the lowest.
Recent graduates struggling with their student loans can consider consolidation. By combining debt and taking out a loan with a smaller interest rate, borrowers can reduce monthly payments.
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