National student loan default rates climb; regional rates lower than average | Detroit Lakes Online
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National student loan default rates climb; regional rates lower than average

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FARGO – Nationally, the number of students defaulting on government education loans is up for the sixth consecutive year.

The national student loan default rate climbed to 10 percent for students who began paying back their federal student loans in fiscal year 2011 – up from 9.1 percent in 2010, according to data released by the Department of Education this week.

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Loan default rates are lower than average for graduates of schools in Minnesota and North Dakota.

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