This report describes the responses to the fifth annual Survey of Household Economics and Decisionmaking (SHED)
Economic well-being rises with education, and most of those holding a postsecondary degree think that attending college paid off. The net benefits of education are less evident among those who started college but did not complete their degree; the same is true among those who attended for-profit institutions.
• Two-thirds of graduates from bachelor’s degree programs feel that their educational investment paid off, but less than one-third of those who started but did not complete a degree share this view.• Just over half of those who attended a for-profit institution say that they would attend a different school if they had a chance to go back and make their college choices again. By comparison, less than one-quarter of those who attended not-for- profit institutions would want to attend a different school.
Over half of college attendees under age 30 took on some debt to pay for their education. Most borrowers are current on their payments or have successfully paid off their loans, although those who failed to complete a degree and those who attended for-profit institutions are more likely to have fallen behind on their payments.
• Among those making payments on their student loans, the typical monthly payment is between $200 and $300 per month.• Nearly one-fourth of borrowers who went to for- profit schools are behind on their loan payments, versus less than one-tenth of borrowers who went to public or private not-for-profit institutions.