About half of students end up dropping out too!

Time reports.

This Is the Worst Kind of College Loan

Unless you’re Steve Jobs, the worst thing you can do is to take out student loans, go to college, and then drop out before finishing your degree.

By doing that, you miss out on all the main economic benefits of college—a higher-paying job, a better chance of upward mobility—while getting all the worst bits. Namely, a truckload of student debt you can’t afford. It’s like paying mortgage on a house you can’t live in.

And yet, every year, roughly 45% of students who enroll in a bachelor’s degree program in this country drop out within six years, according to a 2011 Harvard study titled Pathways to Prosperity.

Even that population generally takes out only modest amounts of debt—less than $10,000 on average—they are disproportionately worse off than any other group of student debtors, mostly because they have a higher likelihood of being unemployed, partially employed, or stuck in a low-paying job. They are three times more likely to default on their loans than those who make it through to graduation day.