Despite the positive return to higher education, many Americans are concerned about their ability to pay for college, and there is increasing focus on the rising burden of student loans on recent graduates. Although average net tuition—the actual cost to students after grant aid, scholarships, and other financial aid—has increased somewhat over the last two decades, the volume of student debt has increased far more dramatically, as has the default rate on student loans. In this month’s employment analysis, The Hamilton Project examines possible explanations for the recent increases in student debt and default rates.
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