Student loan defaults are on the rise, report says

01/29/2013 | Bloomberg

The delinquency rate on student loans from 2010 through 2012 was 15%, up from 12.4% during the 2005 to 2007 period, according to a Fair Isaac report. A FICO survey found that 60% of bank managers expect the default rate to get worse in the next six months. The shortage of jobs for graduates, slower wage growth and higher education costs are raising the chance of defaults, says Andrew Jennings of FICO.

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