Tags: Student Loans | Defaults

Student Loan Default Rates Jump

Monday, 12 Sep 2011 11:44 AM

The number of borrowers defaulting on federal student loans has risen substantially, highlighting concerns that rising college costs, low graduation rates and poor job prospects are getting more and more students over their heads in debt.

The national two-year cohort default rate rose to 8.8 percent last year, from 7.0 percent in fiscal 2008, according to figures released Monday by the Department of Education. The latest figures show the percentage of the more than 3.6 million borrowers whose first payments came due in the year starting October 2008 — at the height of the financial crisis — and who defaulted before Sept. 30, 2010.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved