Student loan defaults are up for the 5th straight year, according to new data from the...
Student loan defaults are up for the 5th straight year, according to new data from the Department of Education. Of the 4.1M students who started making payments in late 2009 and early 2010, 9.1% defaulted within two years, up from a level of 8.8% last year. A modicum of good news from the sector is that the default rate of the for-profit sector dropped to 12.9% from 15% last year.
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