Higher education is more important in today’s economy than ever before – it’s also more expensive. Many students rely on debt to finance their degrees.
While entering the workforce saddled with loans has many disadvantages, doing so without a college degree can be even more daunting. Luckily, borrowers with the highest debt loads tend to achieve levels of educational attainment that bring bright job prospects.
Yet focusing on these high-debt borrowers can overshadow those who fail to finish school. They often struggle to find jobs that pay enough to make their debt manageable – even if their balances are relatively low.