HomeNewsState audit finds high default rate on need-based student loan program

State audit finds high default rate on need-based student loan program

Author

Date

by Dave Williams | Dec 2, 2021 | Capitol Beat News Service

ATLANTA – Georgia’s need-based, low-interest student-loan program has a high default rate that serves to limit its success, a new state audit has found.

About 31% of borrowers participating in the Student Acce...

Subscription Needed

You will need a subscription to The Augusta Press to view this content. Log in below OR subscribe.

Comment Policy

The Augusta Press encourages and welcomes reader comments; however, we request this be done in a respectful manner, and we retain the discretion to determine which comments violate our comment policy. We also reserve the right to hide, remove and/or not allow your comments to be posted. 

The types of comments not allowed on our site include: 

  • Threats of harm or violence 
  • Profanity, obscenity, or vulgarity, including images of or links to such material 
  • Racist comments  
  • Victim shaming and/or blaming 
  • Name calling and/or personal attacks; 
  • Comments whose main purpose are to sell a product or promote commercial websites or services; 
  • Comments that infringe on copyrights; 
  • Spam comments, such as the same comment posted repeatedly on a profile. 

4 COMMENTS

  1. Georgia should take the SAL funds and invest in elementary, middle, and high charter schools that will provide the basic education, discipline, and study skills that students need to be successful in higher education. It will not happen since our education system has morphed into a non-profit business that exists only to pay the salaries of the administrators and instructors. Colleges and universities will gladly accept as many poorly prepared high school graduates as possible to keep the classrooms full. They will also gladly grant you a degree for which there is no demand in the current job market.

  2. “The audit concludes it’s no surprise a program that primarily attracts low-income students would suffer from a high default rate.” While the term “low-income” may be tangentially accurate, the term “low-performing” is a far more salient and germane descriptor.

  3. “SAL receives $26 million in Georgia Lottery proceeds each year to help borrowers with postsecondary costs.” So, our Georgia Lottery funds are no longer an exclusive, qualifying scholarship based fully on academic merit! I was not aware of this prior to reading this news article. So sad! The under-privileged in our state should have secondary education funds available (as loans), but the Georgia Lottery is not the ticket to ride unless it is earned.

Recent posts