September 23, 2005

In Brief

LOAN DEFAULTS: The rate at which borrowers default on their federal student loans has dropped to an all-time low of 4.5 percent, U.S. Education Department officials announced this month. The default rate measures the percentage of borrowers who have defaulted within 12 to 24 months of leaving college. The latest data available, for borrowers who left college in the 2003 fiscal year, show that the default rate had dropped by 0.7 percentage points from the previous year. It had dropped about 18

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