In an effort to avoid having to settle debts down the road with debt collection
agents, many college students are now opting to drop out before graduating, halting the need to take out more student loans. Rather than take out multiple loans and force themselves further into debt, many college students are dropping out and attempting to find well-paying jobs that do not require degrees. The National Association of Consumer Bankruptcy Attorneys states that in 2010, the average college student graduated $25,250 in debt. A 2011 Harvard study found that out of all types of four year universities, only 56 percent of students are able to obtain a bachelor's degree within 6 years and 29 percent complete a two-year associate's degree program on time, citing cost as a reason for stopping attendance. Reuters, however, notes that dropping out can often result in a higher frequency of debt, because the lack of college degree can severely limit job opportunities. The source cited statistics that claim people without a diploma are twice as likely to be unemployed as those with a bachelor's degree. Unemployment can lead to a default on student loans already taken out, which are very rarely forgiven during bankruptcy.