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More college students defaulting on loans

Source: Posted By: jim R...4046 days ago

Amid the gloomy economic information that has permeated the United States in the past year comes one more setback—and it hits closer to home for most Boston College students. The United States Department of Education released a statement earlier this month indicating that the default rate on student loans for borrowers who had repayments due between October 2006 and September 2007 has risen from 5.2 percent to 6.7 percent.

Defaulting on a student loan occurs when a graduate fails to make scheduled....

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