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National Student Loan Default on the Rise

New statistics released by the U.S. Department of Education on Monday, September 13th show that the number of college students that have defaulted on student loans has increased since the previous year.

The Department of Education releases official cohort default rates once per year; cohort default rates are the percentage of borrowers who enter repayment in a fiscal year and default by the end of the next fiscal year.

Data for student loans in the 2008 fiscal year—which runs from…