Student loan default rates continue steady climb

The Chronicle of Higher Education 05 October 2013

The percentage of borrowers who defaulted on federal student loans within two years of starting repayment has increased for the sixth year in a row, while the rate for defaults measured over a three-year period rose by a similar amount, according to figures released last Monday by the US Department of Education, writes Andy Thomason for The Chronicle of Higher Education.

The latest two-year default rate, which applies to borrowers who began repaying loans from 1 October 2010 to 20 September 2011, was 10% – the highest rate in nearly two decades. It was up from 9.1% among the previous year's cohort.
Full report on The Chronicle of Higher Education site

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