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The Characteristics Associated with Student - page 64 / 94

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Borrowers who do not receive in-person exit counseling account for 82 percent of defaults.

N

% of row

N 106 494 600

% of row

8,238 3,938 12,176

98.7 88.9 95.3

1.3 11.1 4.7

Exit Counseling (In-person)

Yes No All Undergraduates

Yes

No

Default

Total 8,344 4,432 12,776

Debt Counseling

Debt counseling has a statistically significant, but weak, relationship to default. Borrowers who did not receive debt counseling have a 17 percent default rate, while borrowers who received counseling default at a rate near the average for all borrowers. Note that almost all borrowers fall into the “Yes” category.

N

% of row

N

% of row

63 12,113 12,176

82.9 95.4 95.3

13 587 600

17.1 4.6 4.7

Debt Counseling?

No Yes All Undergraduates

No

Default

Yes

Total

76 12,700 12,776

Loan-related Variables

Loan-related variables have among the weakest relationships to default of any variables in the study. In general, the number and amount of loans a borrower obtains, whether or not a borrower gets a consolidation loan and the number of lenders a borrower uses have little to do with whether a borrower defaults after entering repayment.

Amount

Significant

0.01

0.08

-0.15

-0.05

Has Consolidation Loan?

Significant

0.00

0.05

0.29

0.05

Number of Loans

Significant

0.00

0.04

-0.09

-0.03

Number of Lenders

Not significant

N/A

N/A

N/A

N/A

Statistical

Uncertainty

Cramer s

Spearman

Significance

Coefficient

V

Gamma

Correlation

Statistical Summary: Loan-related Variables

Variable Total TG Loan Guarantee

61

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