Student Loan Default Rates Jump

Monday, 12 Sep 2011 11:44 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

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 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Reports: George Clooney in Blowup With Steve Wynn Over Obama

Thursday, 24 Apr 2014 13:55 PM

Actor George Clooney and hotel mogul Steve Wynn had a blowup over dinner about President Barack Obama and Obamacare, acc . . .

BLM-Owned Nevada Land Could Contain All of New England

Thursday, 24 Apr 2014 13:41 PM

All of the New England states would fit in all of the land owned by the U.S. Bureau of Land Management (BLM), with some  . . .

Fla. Candidate Crist Courts Green Vote Without Mentioning Green Costs

Thursday, 24 Apr 2014 13:32 PM

Florida gubernatorial candidate Charlie Crist, a Democrat, has vowed to use his future authority as governor to impose r . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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