EL RRUN RRUN
http://rrunrrun.blogspot.com/
---------------------------------------------------------------
HOW ARE YOU DOING ON YOUR STUDENT LOAN REPAYMENT?
---------------------------------------------------------------
<br />by <b>Nick DeSantis</b><br /><div><b><i>Chronicle of Higher Education</i></b><br />More than one out of eight student-loan borrowers who entered repayment from October 1, 2008, to September 30, 2009, defaulted within three years, the U.S. Education Department <a href="http://www.ed.gov/news/press-releases/first-official-three-year-student-loan-default-rates-published">announced</a> on Friday as part of its first release of <a href="http://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html">official data</a> on cohort default rates for federal student loans measured over three years.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhweo1lb2M08okdvK7M7YFL6GqqBNghbt0nGushXDxiTEelzRUO1bKkarzcQarT-RchOaWBozu4qHpH_bbgdbNaM1ugGdWZ2p6wMU1i_7xxOrhZLZ8HGzCGYZ39SqmWTVroYotjpJ4l-C4/s1600/student-loan-default-consolidation.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhweo1lb2M08okdvK7M7YFL6GqqBNghbt0nGushXDxiTEelzRUO1bKkarzcQarT-RchOaWBozu4qHpH_bbgdbNaM1ugGdWZ2p6wMU1i_7xxOrhZLZ8HGzCGYZ39SqmWTVroYotjpJ4l-C4/s1600/student-loan-default-consolidation.jpg" /></a>The new figure on overall default rates, 13.4 percent, was released as the department switches from measuring the rates over three years instead of two. For-profit institutions had the highest average three-year default rates, at 22.7 percent, which was more than double the 11-percent rate among public institutions. Private, nonprofit institutions had an average three-year default rate of 7.5 percent.<br /><br />The department also announced that two institutionsâ€"the Centro de Estudios Multidisciplinarios, in San Juan, Puerto Rico, and Tidewater Tech, in Norfolk, Va.â€"faced possible sanctions for having two-year default rates of 25 percent or more. Unless they bring successful appeals, those institutions stand to lose their eligibility to participate in federal student-aid programs.<br /><br />No institutions will face sanctions based on the new three-year rates until three years of data have been collected, though institutions with rates of 30 percent or higher must create a default-prevention task force and submit a management plan to the department.<br /><br />The department said 218 institutions had three-year default rates above 30 percent, and 37 institutions had three-year default rates higher than 40 percent.<br /><br />For more, see <a href="http://chronicle.com/article/Default-Rate-on-Federal/134786/">this article,</a> with data, from The Chronicle.</div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/6016803033174468094-5786817354410980741?l=rrunrrun.blogspot.com' alt='' /></div>
LINK: http://rrunrrun.blogspot.com/2012/10/how-are-you-doing-on-your-student-loan.html
RSS URL: http://rrunrrun.blogspot.com/feeds/posts/default?alt=rss
This email sponsored by:
1&1 Internet - 6 Months Free on new Hosting packages
http://www.1and1.com/?k_id=7538907
This email is a service of QuickThreads.com.
To manage your subscriptions, login here:
http://www.quickthreads.com/myaccount.php
--------------------------------------------------------------------------
No comments:
Post a Comment