Loan for college rise
October 3rd, 2011The rising number of college loan default should spell trouble for federal efforts to make college more affordable. The nation’s student loan programs could be at serious risk if these trends continue unchecked. According to the latest government figure from 2008 to 2009, the overall student loan default rate jumped 27 percent. It is increasing from 7 percent of all loans to 8.9 percent. They are most alarming was 31 percent spike in defaults among those who attended for-profit colleges. Profit colleges are the default rate reached 15.2 percent of loans.
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