Fed student loan default rate rises from '08-'09 [Credit] - MarketTicker Forums


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User Info	Fed student loan default rate rises from '08-'09 in forum [Credit]
Colk55 Posts: 2425 Incept: 2010-02-11 Indiana	No real surprise here. I wonder what FY 2010's numbers will look like. Quote: The U.S. Department of Education today released the official FY 2009 national student loan cohort default rate, which has risen to 8.8 percent, up from 7.0 percent in FY 2008. The cohort default rates increased for all sectors: from 6.0 percent to 7.2 percent for public institutions, from 4.0 percent to 4.6 percent for private institutions, and from 11.6 percent to 15 percent at for-profit schools. The rates announced today represent a snapshot in time, with the FY 2009 cohort consisting of borrowers whose first loan repayments came due between Oct. 1, 2008, and Sept. 30, 2009, and who defaulted before Sept. 30, 2010. More than 3.6 million borrowers from 5,900 schools entered repayment during this window of time, and more than 320,000 defaulted. Those borrowers who defaulted after the two-year period are not counted as defaulters in this data set. http://www.ed.gov/news/press-releases/de.... ---------- The politician's motto: If you can't dazzle them with brilliance, baffle them with bull***. 2011-09-13 03:34:47 Permalink*
Dan721 Posts: 2776 Incept: 2007-08-23 Phoenix, AZ	Arizona leads the way: http://cronkitenewsonline.com/2011/09/ar.... 2011-09-13 16:37:43 Permalink
Matt_bear Posts: 6359 Incept: 2008-07-15 a week early on spy puts	for-profit is more than public and private combined. gee, what a shocker. ---------- In terms of real-world fundamentals, I expect that most of the people around me, whom I work with day to day, and whom I pass on the street ... will be dead within five years. 2011-09-16 10:05:50 Permalink
Guydaley Posts: 15320 Incept: 2007-07-10 Wyoming only ATM Banned	Dan721 fascinating link, thankyou - so why is AZ leading the way? Top 10 states for student-loan defaults in fiscal 2009 By number of students defaulting: • Arizona – 44,216 • California – 21,529 • Texas – 21,405 • Florida – 19,279 • New York – 16,182 • Illinois – 16,134 • Ohio – 13,443 • Pennsylvania – 12,254 • Iowa – 10,780 • Michigan – 10,711 By percentage of students defaulting: • Arizona – 16.6 • Puerto Rico – 14.5 • Arkansas – 11.6 • Colorado – 11.7 • Iowa – 11.5 • Tennessee – 10.8 • Oklahoma – 10.7 • Florida – 10.5 • Nevada – 10.4 • Kentucky – 10.2 Must have something to do with fraud because AZ has nowhere near the most number of students. You think it would set off alarms........Naaaaaaaaaaaaahhhhh ---------- Its called creeping TEOTWAWKI. Just because it doesn't happen all at once doesn't mean it isn't happening. 2011-09-16 21:28:49 Permalink
Icanhasbailout Posts: 9939 Incept: 2009-03-10 Imaginationland	The University of Phoenix and their extremely aggressive marketing is responsible for that. ---------- 2011-09-16 22:46:21 Permalink
Dan721 Posts: 2776 Incept: 2007-08-23 Phoenix, AZ	Yeah, pretty much starts and ends with the University of Phoenix. 2011-09-17 01:01:31 Permalink
Chris92346 Posts: 1316 Incept: 2009-03-25 Banned	If somebody went to a satellite campus of UoP and then defaulted, would the default count against where the student is or does it automatically get counted in Arizona? 2012-06-23 13:47:21 Permalink