October 15, 1999

Education Dept. Reports 7th Straight Drop in Rate of Student-Loan Defaults

By STEPHEN BURD

The rate at which borrowers default on student loans has dropped for the seventh consecutive year, Education Secretary Richard W. Riley announced last week.

The proportion of borrowers who defaulted within 12 to 24 months of leaving college

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in 1997 fell to 8.8 per cent,

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