Monday, November 4, 2019
Student loan default rates inch down as for-profit sector contracts - Jill Barshay, Hechinger Report
Despite all the concern about the student loan crisis in our nation, student loan default rates have been dropping. In September 2019 the Department of Education’s Office of Federal Student aid released data showing two consecutive years of falling default rates. Only about 450,000 people or 10.1 percent of students who graduated or dropped out of college during the 2015-16 academic year defaulted before the end of September 2018. One can think of it as a measurement of students who go into default shortly after leaving college.