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The Characteristics Associated with Student - page 36 / 94

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36 / 94

N 257 1,796

% of row

N 14 197

% of row

Total

94.8 90.1

5.2 9.9

271 1,993

12,176

95.3

600

4.7

12,776

Previous College

Cedar Valley College Missing

All Undergraduates

Yes

No

Default

Withdrawal Type

N

% of row

N

% of row

Total

2 93 150 10,441 342 206 76 779 87 12,176

100.0 98.9 96.8 96.0 92.7 92.4 90.5 89.4 88.8 95.3

0 1 5 439 27 17 8 92 11 600

0.0 1.1 3.2 4.0 7.3 7.6 9.5 10.6 11.2 4.7

2 94 155 10,880 369 223 84 871 98 12,776

Withdrawal Type has a highly significant association with the likelihood of default. In part, the strength of the relationship relies on the difference between the category of borrowers who had no withdrawals and the remaining groups, made up of those who have withdrawn at least once. In other words, the following table expresses much the same information as the table under the “Withdrawal Indicator” subsection (three subsections later). At the same time, the table below also shows that different types of withdrawals can have dramatically different default rates. Whereas borrowers who withdrew for work-related reasons had a 1 percent default rate, 11 percent of borrowers who withdrew for academic reasons defaulted. This pattern makes some sense, considering that borrowers who are working might have the means to repay their loans, while those who leave because of academic problems will tend to be unprepared for the jobs that would enable them to repay. Members of the latter group might also feel that their investment in a college degree failed and so are less inclined to repay their loans.

Type of Withdrawal

Missing Work-related Other No Withdrawal Personal Death/Illness Financial Withdrawn Administrative Academic All Undergraduates

Yes

No

Default

33

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