DETROIT FREE PRESS: Will you end up with student loan debt and no degree?

Career College Central Summary:

When thinking about college debt, the big worry tends to be: will a paycheck follow the college diploma? And will that job cover everyday bills, as well as monthly student loan payments?
But as the high school graduation celebrations wind down and the borrowing for college heats up, the real question to ask should be: Will I end up with a big bunch of debt and no degree?
A new report on the economic well-being of U.S. households gives an interesting glimpse on student loans and the challenges facing families.
The Federal Reserve survey noted that 23% of adults currently have some education debt. In that group, about 15% had such debt for their own education; 6% had education debt for a spouse or partner; and 6% had college debt for their child's or grandchild's education.
Students who took on debt but didn't complete any degree are more likely to end up behind on student loan payments.
About 16% of borrowers who did not complete any degree or certificate report being behind on payments, according to a survey released in May by the Federal Reserve Board. It jumps to 21% of those who have no degree and are no longer enrolled in the program for which they borrowed.
By contrast, 6% of borrowers who completed an associate degree report being behind on their student loan payments. The percentage drops to 4% for this who completed a bachelor's degree, according to the Fed report on household financial well-being.
First-generation college students and those who attended for-profit colleges find things particularly tough.
The survey showed that 16% of borrowers who attended for-profit institutions said they were behind on student loan payments, compared with 6% of students who attended a public institution.

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DETROIT FREE PRESS