History of IDEA
Jeannie Oakes, Founder and Former Director
Youth Voice in School Finance
NEW REPORT: Los Angeles' road to A-G for all
Without Dollars and Sense Powerpoint
Past Educational Opportunity Reports
Student loan default rates rise sharply in past year
- 09-13-2011
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By Tamar Lewin/New York Times
The share of federal student loan defaults rose sharply last year, especially at for-profit colleges and universities, where 15 percent of borrowers defaulted in the first two years of repayment, up from 11.6 percent the previous year. According to Department of Education data released Monday, 8.8 percent of borrowers over all defaulted in the fiscal year that ended last Sept. 30, the latest figures available, up from 7 percent the previous year. At public institutions, the rate was 7.2 percent, up from 6 percent, and at not-for-profit private institutions, it was 4.6 percent, up from 4 percent. “Borrowers are struggling in this economy,” said James Kvaal, deputy under secretary of education. “We see a strong relationship between student default rates and unemployment rates.” (more...)
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