While the true benefits of an Ivy League education might be somewhat overstated in popular culture, it turns out it’s good for at least one thing. According to an NPR piece by Sarah McBride:
The eight Ivies have a mean average repayment rate of 74.6%, according to new data from the Department of Education. That compares to 70.6% at the eight public Ivies— the publicly funded universities that are considered to provide an education on par with the Ivy League. Rate of repayment means the percentage of outstanding principal balance of the Federal loans that has been repaid or is being repaid.
The Department’s study is the same one that demonstrated that the average loan repayment rate for private colleges was an astoundingly low 56 percent.
At 84 percent, Harvard has the highest loan repayment rate. Brown University students have the worst loan repayment rate in the Ivy League. The Providence, Rhode Island school’s cumulative four-year repayment rate is 63 percent.
Just in case you were wondering….
