Overwhelmed By Student Debt, Many Low-Income Students Drop Out
Leon was the first person in his family to go to college. His income is low enough that he qualified for a federal Pell grant, but even so he’d taken out more than $20,000 in loans to afford three years of school. When he quit, he joined more than 100,000 students in Georgia who took out federal loans and withdrew from the state’s public colleges and universities between 2013 and 2015. Across the country, almost a third of students who took out loans left before completing a degree, according to a report by the Financial Industry Regulatory Authority.