High default rates point to deeper issues at private colleges

June 18, 2015

Experts warn that the problem of high student loan default rates for students who attended Nova Scotia’s private colleges may be widespread. According to CBC, 27% of NS students who defaulted on their loans over a six-year period had attended private colleges, though those institutions received a smaller proportion of total student loan funding. Some experts say that the default rate is higher for these institutions because of higher unemployment rates in the communities these institutions serve. However, many factors may be at play. Students who enroll at private colleges also may be older and not have the same level of family support as young students at other institutions. Rethinking Higher Ed contributor Glen Jones has argued for the need to play closer attention to what he calls “the invisible private sector.” CBC