Student Loan Default Rate Lowest Ever
By Ben Hammer
The U.S. Department of Education’s efforts to assist student loan borrowers are paying off, says Education Secretary Roderick Paige. The nation’s student loan default rate has dropped to an all-time low of 5.4 percent, and for the first time ever, all schools have rates low enough to ensure they remain eligible for federal financial-aid programs, Paige said last month.
