Default Rate on College Loans Increases 13%
- Share via
From Times Wire Reports
Defaults by college students on federally backed loans increased by 13% last year, as students faced higher tuitions and interest rates.
The default rate was 5.1% for the year ending in September 2005, up from the previous year’s record-low rate of 4.5%, the Education Department said.
More to Read
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.