[lbo-talk] Student Loan Default Rates Rising

[brad]

Interesting to think about the potential that lays with people who owe
student loans...loan strike.  If the default rate continues to rise
and more folks get desperate this could be either a potential source
for critical or reactionary responses.

Brad

U.S. Student Loan Default Rate on Federal Loans Rises to 7.2%

Bloomberg News

May 3, 2010

The default rate on U.S. student federal loans rose to 7.2 percent for
the year ended Sept. 30, 2008, from 6.7 percent and 5.2 percent in the
same two previous 12-month periods, according to the Education
Department. For-profit colleges had the highest default rate, climbing
to almost 12 percent in 2008 from 11 percent, the Education Department
said. The default rate at public colleges was 6.2 percent and 4.1
percent at private schools.

http://www.naicu.edu/news_room/us-student-loan-default-rate-on-federal-loans-rises-to-72