Recession fuels an increase in college-loan defaults

09/14/2010 | USA Today

More U.S. college students defaulted on federal student loans in the fiscal year that ended in September 2008, as 7% of borrowers defaulted within two years of starting repayment, an increase from 6.7% in 2007 and 5.2% in 2006. Students who attend for-profit colleges are more likely to default, with the default rate increasing from 11% to 11.6%.

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