Student-Loan Default Rate Rises

Kevin Hilliker:

The percentage of federal student-loan borrowers who defaulted during the two years ended last Sept. 30 rose to 8.8% from 7%, according to figures that the U.S. Department of Education released Monday.

That increase reflects the difficulty graduates are facing finding jobs amid a weak economy, particularly those who attended for-profit schools. The default rate for for-profit schools rose to 15% from 11.6%, compared with a rise to 7.2% from 6% at public institutions and a jump to 4.6% from 4% at private institutions.

Posted by Jim Zellmer at September 14, 2011 2:52 AM
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