Arizona Leads Nation in Student Loan Defaults
New figures released Monday show that students in Arizona lead the nation in defaulting on student loans.
Finally; something related to education that Arizona excels in.
The national average for defaults on student loans, according to the U.S. Department of Education, is 6.7 percent. That's up from 5.2 percent last year.
Here in Arizona, 6.7 percent is almost laughable. We cruised past that this year with a 9.8 percent default rate.
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These numbers are for students whose first repayments were due between October 1, 2006 and September 30, 2007, and who defaulted before Sept. 30, 2008.
Other notable deadbeats: Texas and West Virginia both weighed in with a 9.3 percent default rate.
Hey, at least we have company.
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