Home > DocuBase > Article

« All DocuBase Articles

 

Follow DocuTicker on Twitter Bookmark and Share   Feed

Monday, 28th September 2009

Student Loan Default Rates Increase

Student Loan Default Rates Increase
Source: U.S. Department of Education

U.S. Secretary of Education Arne Duncan today announced that the FY 2007 national student loan cohort default rate increased to 6.7 percent, up from the FY 2006 rate of 5.2 percent.

The rate announced today is a snapshot in time, representing the cohort of borrowers whose first loan repayments came due between October 1, 2006 and September 30, 2007, and who defaulted before September 30, 2008. Some 3.3 million borrowers entered repayment during this time, and more than 225,300 borrowers went into default. They attended 5,776 participating institutions.

“The economic downturn likely had a significant impact on the borrowers captured in these rates,” Duncan said. “The Department is reaching out to make sure current and prospective student borrowers are aware of the many flexible repayment options designed to assist them with their financial obligations, such as the new Income-Based Repayment Plan.”

As a historical comparison, in FY 1990, nearly one in four borrowers defaulted on their federal loans when default rates set an all-time high of 22.4 percent. The rate dropped to record low of 4.5 percent in FY 2003.

+ Default Prevention and Management


Category:

Source:

Views: 522




Please note: DocuTicker's editors collect citations for full-text PDF reports freely available on the web but we do not archive these reports. When you click a link to find and/or download the report, you are leaving the DocuTicker site. DocuTicker makes no representations regarding the ongoing availability of any report or any external resource. Links were accurate as of the date of posting.

« All DocuBase Articles

 

FreePint

FreePint supports the value of information in the enterprise. Read more »


FeedLatest FreePint Content:


  • Click to view the article My Favourite Tipples from a Due Diligence Specialist
    Wednesday, 27th August 2014

    My Favourite Tipples are shared by Eric C. Schwarz, online search and due diligence research expert. He shares some of his favourite free online resources in the compliance and regulatory field.

  • Click to view the article FreePint Subscription Update - What's New and What's Coming
    Tuesday, 26th August 2014

    Find out what's new and upcoming in FreePint's Content, Community, and Consulting - including articles and reviews on leading products and vendors in the regulatory compliance arena in our Know Your Customer series, plus a range of new webinars, and an update on FreePint's Community of Practice and consulting services.

  • Click to view the article Why Compliant Bosses Need Info Pros - Some Cautionary Compliance Tales
    Tuesday, 26th August 2014

    As the FreePint Topic Series: What You Need to Know Your Customer (KYC) continues, Tim Buckley Owen notes that there are special insights that information professionals can bring to this and other regulatory compliance challenges. Whether it's the Safe Harbor agreement, adverts for financial services generated automatically by search engine results, financial promotions in social media or regulatory authorities' encouragement of financial technology developments like Bitcoins, info pros should be able to offer a uniquely well informed perspective. And that's before you even consider ways of keeping the boss out of jail for not doing their due diligence properly...

  • ... more ...

All FreePint Content »
FreePint Topics »


A FreePint Subscription delivers articles and reports that support your organisation's information practice, content and strategy.

Find out more and order a FreePint Subscription by visiting the
completing our online form: Subscription Order page.


FreePint Testimonials

"FreePint's CoPs are: 'extremely relevant' and 'well worth attending'." Information Centre Manager, Financial, Government

Read more testimonials and supply yours »







 

 
 
 

Subscribe

Receive the DocuTicker Newsletter each week.

Find out more »

Article Categories

All Article Categories »

Sources

All DocuBase Sources »

Source Categories

All Source Categories »

Archive

All Archives »