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In Default-Rate Data, More Fuel for Fight Over Bank-Based Lending

Source: chronicle.com Posted By: Scuplin K...3323 days ago

The student-loan industry, which learned late Friday that its loan overhaul plan would save the government $13-billion less than legislation to end bank-based lending, got another bit of bad news on Monday, when the Education Department released its annual cohort default rates.

The data, which reflects the percentage of borrowers who entered repayment in the 2007 fiscal year and defaulted within the next two years, shows that the default rate was 2.4 percentage points higher for borrowers in the....

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