Monday, May 23, 2011
For-Profit School Loan Default Rates Higher
According to new federal government statistics, the loan default rates for students at for-profit schools in 2009 were substantially higher than at traditional private and public colleges and universities. At for-profit schools, students defaulted on their loans at a rate of 15.2 percent, according to new U.S. Department of Education numbers; in contrast, the default rate was 4.7 percent at private institutions and 7.3 percent at publicly funded schools.
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