Feb 09, 2017 10:35 AM EST
Placing Disadvantaged Students in Quality Schools Improve Loan Repayment Rate [Video]
Placing disadvantaged students in quality schools is one way of improving repayment rate of student loans. They should have good-paying jobs in order to repay their debt. Without a good job, they cannot repay their loans on time.
Students in the United States can avail of student loan. They receive government support for all school expenses including books, board and lodging and clothing allowance on top of tuition fees. The problem was repayment of loans. Almost one-half of the total number of students with loans was not able to pay back, according to The Wall Street Journal.
In order to pay back their loans, the students must have well-paying jobs after graduation. The problem was many of the students were not able to find employment. As a result, they were not able to repay their student loan from the government
Companies are expected to help these students get a job after graduation by prioritizing them. They should also be sent to study in schools known for high quality of education. This will give them an edge over other job applicants. Disadvantaged students will benefit from graduating in a recognized school, according to Diverse Issues in Higher Education.
Schools could be classified according to economic opportunity of its graduates. There are schools whose graduates were preferred by employers. Disadvantaged students who graduated from a school with high income opportunity tended to get good-paying jobs as well.
Harvard University, Massachusetts Institute of Technology, California Institute of Technology, and Yale University topped the list of schools with most preferred graduates by employers, according to Forbes. These schools are selective so students should find one that is not but which graduates were mostly employed.
Disadvantaged students who graduated from these schools were known to get good job. Placing disadvantaged students in these schools might result to high repayment rates of student loans.
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