The Department of Education delivered some good news this fall about the student loan crisis: Cohort default rates for federal loans dropped to 10.1% for fiscal year 2016, a significant decrease over the previous year.
Mike Brown, research analyst at LendEDU, an online student lending marketplace, says the data likely reflects aggressive institutional efforts to keep default rates low through improved academic advising and financial literacy lessons, plus an increase in scholarships and work-study programs. Click on the infographic for a by-the-numbers breakdown of the data.
Additional analysis and analysis can be found at the Department of Education website and at LendEDU.
