December 15, 2009
New Default Rate Data for Federal Student Loans
44% of Defaulters Attended For-Profit Institutions
The Institute for College Access & Success
The U.S. Department of Education has released a preview of new draft default rates yesterday. The new data show nearly 400,000 students who entered repayment in 2007 had defaulted by 2009, representing 12 percent of all students who entered repayment that year. Nearly half of these borrowers (44 percent) attended for-profit schools, even though only 1 in 14 students (7 percent) attend such schools.
Read the press release
Featured Reports
Student Debt and the Class of 2008
Our student debt report for the class of 2008 found college seniors carried an average of $23,200 in student loan debt while unemployment climbed to 10.6 percent.
Our report exposes wide variations in financial aid policies and
practices at the state’s community colleges, which can have a major
impact on students’ access to available aid.
Going to the Source: A Practical Way to Simplify the FAFSA
Our new report outlines a way to make applying for financial aid
easier, safer, and more accurate by using income data the federal
government already collects to answer many of the most difficult
questions on the FAFSA.
