A new report from Autodesk reveals which colleges and universities best suit students with student loan debt, and also breaks down how the federal government can help students and their families avoid debtors altogether.
The report was released Monday as part of the second round of research into student debt.
Students who receive student loans typically borrow from their parents, sometimes to pay off debt incurred while in school, or to buy goods or services they might not otherwise be able to afford.
The Federal Student Aid Act (FSA) of 1965 made it a federal crime to default on student loans and has given student loan servicers powers to garnish wages from graduates.
That law, however, has limited the ability of borrowers to sue servicers over their debts.
The new report says that if the law was more broadly applied, it could help protect students by preventing lenders from garnishing wages or forcing borrowers to repay their loans.
The FSA, the federal agency that collects student loan payments, collects data from borrowers, colleges, and universities to identify and track defaults on student loan loans.
The data are used to determine how much borrowers owe and how much they can get.
The data is collected by federal loan servicer banks to determine whether borrowers can afford their loans and the likelihood of defaults, according to a report from the Student Loan Hero Network, which tracks student loan defaults.
The research shows that the FSA collects data about the amount of debt a borrower owes and the repayment rate.
The report finds that student loan borrowers are most likely to default if they owe more than 25 percent of their discretionary income.
But the report doesn’t look at the cost of a default or the length of time it lasts, the cost to a borrower of debt, or the likelihood that a default will occur.
The FSA doesn’t collect data about how much students owe or how much is owed on their loans, and doesn’t track student loan balances or their repayment rates.
The Student Loan Heroes Network, a nonprofit group that tracks student debt, has collected more than $1.3 billion in data from more than 600,000 borrowers.
The National Student Loan Data Center (NSLDC), which helps student borrowers get access to the data the FSA does, also didn’t collect the data.
The NSLDC said in a statement that it has received data from student loan servists that are used by the FSA, but the data is proprietary and cannot be shared.