Buried within the federal government’s new report on student loans is a statistic causing concern for some community colleges: Loan defaults in that sector have increased to nearly 10 percent. The official loan-default rate in the sector is 9.9 percent, up from 8.4 percent a year ago, the Department of Education reports. This rate is significantly above the nationwide default rate of 6.7 percent among all institutions of higher education.
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Two-Year Colleges Face Student Loan Default Challenge
by Charles Dervarics , October 26, 2009
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In seven states, more than 20 percent of community college students cannot access federal loans, according to a recent report. Given these findings, Martha Kanter (pictured), undersecretary of education, said community colleges should carefully weigh decisions on whether to opt out of the federal student loan program.
Comments posted here may be reprinted in Diverse: Issues In Higher Education magazine, and may be edited for purposes of clarity and/or space.
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