Monday, September 21, 2009

Student loan defaults up, but cause unclear

Figures released this week by the U.S. Department of Education show an increase in the student loan default rate, and Illinois numbers bear that out, too -- though the details vary among individual colleges and universities.

At the University of Illinois Springfield, the student loan default rate improved slightly. The most recent rate was 3.8 percent, compared with 3.9 percent for the prior year.

Gerard Joseph, director of financial assistance at UIS, said the school -- like many others -- tries to encourage students to borrow only what they need.

The story was featured in a September 18, 2009 article in the State Journal-Register.

Download a PDF of the article.