Over 40 million students across the country take out loans each year, and owe a collective $1.2 trillion, according to the U.S. Department of Education. Beyond those numbers, though, the amount of information available on loans has been minimal.
Earlier this month, however, Adam Looney of the Treasury Department and Constantine Yannelis of Stanford University released an in-depth report on student loans, and particularly about those most likely to default.
Seventy percent of those who default on their loans attend two-year or for-profit colleges, while those who take loans out to pay for selective colleges, like Wake Forest, tend to do the best at paying back their loans.