Via Scoop.it – A New Society, a new education!

Earlier this year, the Department of Education reported that the national cohort default rate was 7 percent for the 2008 fiscal year, the last year for which repayment data are available.   Looking at repayment rates, on the other hand, while also expanding the time span over which student loan repayment is measured, yields a far larger non-payment rate among college loan borrowers and paints a truer picture of the size of the inability-to-repay problem among student loan borrowers.   The Department of Education estimates that in 2009, among alumni of public universities who carried federal student loan debt, only 54 percent of those who had graduated or left school within the last four years were in repayment on their federal student loans — a far cry from the 93-percent national non-default rate of 2008.
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